Eurasian Economic Union needs to redesign logistics amid Western sanctions: Belarusian president

2022-05-28 12:35:00Xinhua Editor : Xue Lingqiao ECNS App Download

To counter the colossal pressure from the West, the Eurasian Economic Union (EAEU) needs urgent measures to redesign its logistics, Belarusian President Alexander Lukashenko told an online meeting on Friday.

During the meeting of the Supreme Eurasian Economic Council, the highest governing body of the EAEU, Lukashenko stressed that Russia and Belarus fell under sanctions pressure, the consequences of which will affect every country in one way or another.

In the field of logistics, the Eurasian Agroexpress initiative of the Eurasian Economic Commission is of considerable interest as it can provide regular unimpeded deliveries of agricultural goods by rail, he said.

International economic cooperation with countries and integration associations is also important, Lukashenko said, noting that "active work is underway to conclude trade agreements with Egypt and Iran."

Referring to Indonesia and the United Arab Emirates as the union's potential trade partners, the president said that there is a huge potential to conclude an agreement on trade and economic cooperation with China.

By the end of 2021, the total GDP of the EAEU increased by 4.6 percent and for the first four months this year, its GDP growth was around 5.4 percent, Kyrgyz President Sadyr Japarov said in his online speech at the Supreme Eurasian Economic Council session. 


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