EAEU reduces negative effect from economic crisis, sanctions - lawmaker

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ST. PETERSBURG. KAZINFORM - The Eurasian Economic Union (EAEU) considerably reduces the negative effect from economic crisis and Western sanctions, Russian State Duma Speaker Sergey Naryshkin said on Thursday.

"Eurasian integration is developing in rather uneasy conditions. Crisis in the world economy is growing, fuel prices have sharply fallen, and there is also considerable technological lag, plus the practice of illegal Western sanctions. However, the creation of the Eurasian Economic Union significantly reduces the negative effect from such challenges," Naryshkin told the international forum "Eurasian economic prospects."

"External difficulties not only fail to stop but also stimulate Eurasian integration, boost its pace," he added. "The main advantage of EAEU is the sixth-largest market in the world of goods, services, labor and capitals that is open for member countries," he noted.

Admitting that "the situation in the economy remains difficult," Naryshkin said that he thinks that "the worst has already passed." "Our economies will soon return to real growth thanks to diversification and deepening integrational ties. Consequently, it will depend less and less from dynamics of world fuel prices," the Duma speaker concluded.
Photo: © Sergei Fadeichev/TASS

Kazinform refers to TASS

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