Putin, first international meeting of new term with former Soviet bloc…"multipolar world center" – Korean Economy VRESP TODAY

Russian President Vladimir Putin emphasized the ‘multipolar world order’ at the first international conference he attended in his new term on the 8th (local time).

“I am satisfied that over the past decade our Union has established itself as one of the independent and self-sufficient centers of the emerging multipolar world,” President Putin said at the Eurasian Economic Union (EAEU) summit held at the Moscow Kremlin on this day.

In addition, it was stated that the EAEU has shown its effectiveness in the face of new challenges such as sanctions by some countries, and that the free movement of goods has increased by eliminating barriers between member countries.

EAEU, a former Soviet bloc economic cooperation organization in which five countries including Russia, Belarus, Kazakhstan, Kyrgyzstan, and Armenia participate, celebrates its 10th anniversary this year.

President Putin said that the total gross domestic product (GDP) of member countries has increased from $1.6 trillion to $2.5 trillion over the past 10 years and that “the EAEU guarantees stable economic development for the entire Eurasian region.”

In addition, it was evaluated that member countries have seen tangible benefits through the revitalization of trade, investment, business, and cooperation through the EAEU.

In particular, it was emphasized that the volume of bilateral trade within the EAEU has almost doubled from $45 billion to $89 billion, and that more than 90% of payments have already been made in national currencies.

Putin said other international organizations, including the Commonwealth of Independent States (CIS), the Shanghai Cooperation Organization (SCO) and the Association of Southeast Asian Nations (ASEAN), are interested in communicating with the EAEU.

The meeting was attended by President Putin, who officially began his fifth term in office the day before, Armenian Prime Minister Nikol Pashinyan, who chairs the EAEU this year, Belarusian President Alexander Lukashenko, Kazakh President Kassym-Jomart Tokayev, and Kyrgyz President Sadir Jafarov.

Uzbekistan President Shavkat Mirziyoyev and Cuban President Miguel Diaz-Canel were invited to the EAEU enlarged meeting as observers.

/yunhap news