Alexander Lukashenko Addresses Plenary Session of EAEU

This was stated by the President of Belarus during his speech at the plenary session of the Eurasian Economic Forum.

Alexander Lukashenko outlined the contours for the future development of the Eurasian Economic Union. The head of state also emphasized the need to double the union’s GDP within the next ten years.

According to Lukashenko, the EAEU members possess all the tools that many countries are only beginning to develop. "The main task now is to increase the efficiency of their use for the benefit of real integration. Under no circumstances should we turn our union into a platform for empty talk. On the contrary, it must become as attractive as possible for new participants. The number of countries represented at this forum demonstrates immense interest in our union. Let’s seize this moment to the fullest," he urged.

The President highlighted that recent discussions have often focused on the turbulence in the world and the need to overcome it. "If anyone from the post-Soviet space (especially regarding the economy) thinks they can slip through somewhere alone and gain some advantage today, they are mistaken. We must absolutely not lose the single market inherited from the Soviet Union, nor the industries we currently have—high-tech industries. Russia, for example, has been trying (with considerable effort and significant progress) to revive its industries that once operated at a high level in the Soviet era. Take the automotive industry—Lada ('Zhiguli', as we called them), Moskvitch. There are decent cars now. Maybe not Mercedes yet, but good cars. The same applies to other sectors. Therefore, we cannot afford such mistakes. We must preserve everything we inherited from the Union and everything that still breathes today. And under no circumstances should we look elsewhere. No one is waiting for us out there. The economy will bring us together eventually. This is our space—created by many generations. Now is the time to pay the utmost attention to it. Only together, knowing each other, and speaking the same language for now. You see, representatives from 30 countries are present here in Minsk. Nicaragua, Myanmar, the UAE (tomorrow we will discuss free trade), and many others ready to cooperate with us. But we, the core of the EAEU here in Minsk, must have something to offer them."

"EAEU 2.0"—this is how Alexander Lukashenko characterized the future steps of the union and its role on the global market. He also called for the swift completion of the formation of a common financial market within the Eurasian Economic Union.

Another important proposal from the head of state is to position the union as a global transit hub. In the future, this initiative could also extend to dialogue between the EAEU and the Shanghai Cooperation Organization (SCO).