Trade turnover in Eurasian Economic Union exceeds €80 billion last year
Trade Turnover in Eurasian Economic Union Exceeds €80 Billion Last Year
Trade turnover in Eurasian Economic Union - The Eurasian Economic Union (EAEU) has made significant strides in economic integration, with trade turnover surpassing €80 billion in the previous year. Leaders from the five member states—Russia, Belarus, Kazakhstan, Kyrgyzstan, and Armenia—gathered in Astana for a two-day summit to discuss the bloc’s future direction. Central to the discussions was the push for digitization and artificial intelligence to streamline operations and foster closer cooperation across the shared economic space of over 20 million square kilometers.
A Digital Transformation Strategy
During the summit, member states emphasized the creation of a unified digital environment to establish a seamless market. Delegates explored shared digital tools and AI systems aimed at reducing fragmentation and enhancing collaboration. Kazakhstan’s President Kassym-Jomart Tokayev highlighted that trade between EAEU nations has more than doubled in recent years, while trade with non-member countries has grown by 72%. He also noted that approximately 90% of financial settlements within the bloc now occur in national currencies, signaling a shift away from centralized systems.
“Trade turnover between EAEU members could increase by around 6% this year, potentially exceeding €85 billion,” said President Tokayev. “GDP growth across the union is projected to reach about 2.5% for 2026–2027, reflecting the bloc’s ongoing modernization efforts.”
The EAEU, now in its 12th year, operates as a single integrated market and free trade zone. It has already established agreements with several countries, including Serbia, Vietnam, the UAE, Mongolia, and Indonesia. China remains a crucial partner, accounting for roughly one-third of external trade. This strategic partnership underscores the bloc’s growing influence in global commerce.
AI as a Catalyst for Cooperation
Kazakhstan, which currently holds the EAEU’s rotating presidency, proposed the practical application of AI to support the bloc’s so-called four freedoms: movement of goods, services, capital, and labor. The initiative aims to bolster member states’ competitiveness by leveraging technology. Additionally, leaders called for common principles governing the ethical use of AI, as well as the development of shared computing resources and collaborative model-building projects.
Meanwhile, Russia suggested a high-level AI summit in the coming year to advance domestic AI models and integrate IT infrastructure with energy systems. Russian President Vladimir Putin emphasized the importance of such collaboration, stating that the event would help align technological progress with industrial and economic goals. Pilot projects are already being tested within the EAEU, including AI-powered legal assistants developed by government agencies and startups in Kazakhstan. These tools are designed to simplify legislation, cut bureaucracy, and make regulatory systems more accessible for citizens and businesses.
“These AI legal assistants are intended to ease navigation through complex legal frameworks,” explained Dmitry Mun, Deputy Minister of Artificial Intelligence and Digital Development. “They will also help standardize processes across member states, ensuring smoother cross-border transactions.”
Transport corridors are another focal point. Officials reported that 85% of goods moving from China to Europe pass through the Middle Corridor, a critical logistics route. AI is being integrated into this network alongside the Trans-Caspian International Transport Route, which includes the Digital Transport Corridor and the TDN (Trans-Dictatorship Network). These advancements are expected to boost non-commodity exports by 30% over the next two years.
Building a Regional Logistics Hub
Kazakhstan’s Minister of Trade and Integration, Arman Shakkaliyev, outlined the country’s vision to enhance its role as a regional logistics hub. By leveraging major transport routes like the Middle Corridor and the North–South Corridor, Kazakhstan aims to consolidate large export volumes and create a fully integrated ecosystem. The goal is to achieve this by 2030, with annual cargo volumes reaching 10 million tonnes.
Efforts to realize this vision are already underway. Projects include railway modernization and the development of new infrastructure to support increased freight traffic. The EAEU’s infrastructure improvements are expected to reduce transit times and costs, making the region more attractive for international trade. Additionally, the bloc’s focus on AI and digital tools is seen as a long-term strategy to sustain growth and competitiveness.
Bilateral Agreements and Investment
The summit followed Russian President Vladimir Putin’s state visit to Kazakhstan, where the two nations signed seven key pillars of bilateral cooperation. These agreements covered energy, transport, finance, education, and industrial development, reinforcing their economic ties. Russia remains Kazakhstan’s largest investor, with nearly €25 billion already committed. Plans are in place to expand this investment further, including the construction of Kazakhstan’s first nuclear power plant, valued at approximately €14 billion.
“This nuclear facility will supply around 20% of Kazakhstan’s electricity needs and aligns with international financing standards,” stated Putin. “It also strengthens Russian industrial capabilities through long-term equipment contracts and maintenance agreements.”
Officials highlighted that the plant’s development is part of a broader effort to deepen infrastructure ties between the two countries. Such projects are crucial for ensuring energy security and supporting economic growth. The EAEU’s leaders also acknowledged the importance of maintaining strong partnerships, particularly with China, which continues to be a vital player in the bloc’s external trade dynamics.
Looking ahead, the EAEU’s focus on digitization and AI is expected to drive innovation and efficiency. By fostering a unified digital environment, the bloc aims to position itself as a leader in the digital economy. As member states work to implement these initiatives, the EAEU is poised to enhance its economic resilience and expand its global reach. The integration of advanced technologies into trade and transport systems will play a pivotal role in achieving these objectives, ensuring the bloc remains competitive in an increasingly interconnected world.