Press Release on President Putin’s Address at the Supreme Eurasian Economic Council

Astana, May 29, 2026 – President of Russia Vladimir Putin delivered a statement at the expanded meeting of the Supreme Eurasian Economic Council, held in Astana on the twelfth anniversary of the signing of the founding Treaty on the Eurasian Economic Union (EAEU) in the same city on May 29, 2014.

The President noted the symbolic significance of the occasion, stating that the consistent and painstaking joint work carried out by member states to implement the founding document has made it possible to create a truly effective integration association. He observed that the assessments voiced by colleagues, both positive and critical, clearly show that the Eurasian Economic Union is functioning successfully overall and continues to develop further.

President Putin particularly emphasised that, given the specifics of the current situation, close Eurasian integration brings real benefits to each member state, helping increase business revenues and improve the quality of life and well-being of citizens across the Union.

The key macroeconomic indicators of the five member states show a stable positive dynamic. Total industrial production in the Eurasian Union increased by 1.6 percent, agricultural production by 4.6 percent, and construction by 4.2 percent, with growth also being recorded in most sectors of the economy. Trade flows between the states of the association reached 95 billion US dollars in 2025, and the structure of trade is improving thanks to expanded supplies of high-tech products and a simultaneous decrease in the share of raw materials.

President Putin highlighted that trade barriers are being consistently eliminated within the EAEU and non-tariff regulation rules are being unified. Practically all settlements between member countries are now carried out in national currencies, meaning that mutual export-import operations are reliably protected from external influence and negative trends on global markets. Measures are also being taken to further harmonise the customs legislation of the member states.

The President pointed out that the Eurasian Economic Union and its integration activity attract considerable attention abroad. Many foreign states and major regional structures, such as the Commonwealth of Independent States, the Shanghai Cooperation Organisation, and the Association of Southeast Asian Nations, are showing interest in developing ties with the Union. For its part, the EAEU remains invariably open to mutually beneficial and equal cooperation with constructively minded countries and associations.

The circle of preferential partners is steadily expanding year by year. In 2025, trade agreements were concluded with Mongolia, the United Arab Emirates, and Indonesia, and negotiations on trade liberalisation with India have also intensified.

President Putin stressed that deepening allied ties with all EAEU states is an unconditional priority for Russia, and stated that Russia intends to continue fully supporting the development of integration processes across the entire Eurasian space.