Lavrov announced the imminent refusal to calculate the trade statistics of the EAEU in dollars

It is time for the countries of the Eurasian Economic Union (EAEU, includes Russia, Kazakhstan, Armenia, Belarus and Kyrgyzstan) to switch to the calculation of trade statistics in currencies other than the dollar, this will happen soon, said Russian Foreign Minister Sergei Lavrov, transmits TASS.

During the international inter-party conference “Eurasian Choice as a Basis for Strengthening Sovereignty”, organized by the United Russia party, Lavrov said that the total gross income of the EAEU is over $2 trillion.

“Although we need to switch to statistics in other currencies, but for now, by inertia, we count in dollars, but soon, I am convinced, this will pass,” he said.

Now there is a free trade agreement with Vietnam and Singapore, Lavrov drew attention, negotiations are also underway on similar agreements with Iran and Egypt and are planned with India, Indonesia and the United Arab Emirates.

Former Russian President Vladimir Putin declaredthat in 2022 the EAEU worked efficiently and continued to “consistently develop in the conditions of volatility in global markets and the unfavorable global political environment”, and this year “timely and effective steps were taken that allowed stabilizing the macroeconomic situation”. The Russian President noted that the decline in GDP in the EAEU by the end of 2022 will be 2.9%. “In the next one, we expect 0.9% and will continue to move in a positive trend,” Putin said.

In October, Economic Development Minister Maxim Reshetnikov said that Russia implements bilaterally with the EAEU countries more than 200 major projects worth $40 billion, while the countries formed a list of 160 initiatives in the industry with a total investment of $270 billion, as well as 70 in the agro-industrial complex segment with investments of $6.5 billion.