Close Menu
Daily Guardian EuropeDaily Guardian Europe
  • Home
  • Europe
  • World
  • Politics
  • Business
  • Lifestyle
  • Sports
  • Travel
  • Environment
  • Culture
  • Press Release
  • Trending
What's On

Colombia declares three days mourning for quake victims as EU pledges assistance

August 12, 2026

Musk’s SpaceX booked a 17th-century palace to watch Spain’s eclipse

August 12, 2026

Jack Lowden for James Bond: Did British TV presenter and author Richard Osman leak identity of the new 007?

August 12, 2026

Mount Etna eruption: Catania airport closes and ash cloud reaches as far as Libya

August 12, 2026

Video. Europe scrambles for eclipse glasses as solar power output set to dip

August 12, 2026
Facebook X (Twitter) Instagram
Web Stories
Facebook X (Twitter) Instagram
Daily Guardian Europe
Newsletter
  • Home
  • Europe
  • World
  • Politics
  • Business
  • Lifestyle
  • Sports
  • Travel
  • Environment
  • Culture
  • Press Release
  • Trending
Daily Guardian EuropeDaily Guardian Europe
Home»Business
Business

Trade turnover in Eurasian Economic Union exceeds €80 billion last year

By staffMay 29, 20264 Mins Read
Trade turnover in Eurasian Economic Union exceeds €80 billion last year
Share
Facebook Twitter LinkedIn Pinterest Email

Eurasian Economic Union (EAEU) countries are moving towards deeper economic integration through digitisation and AI, as leaders of the bloc met in Astana for a two-day summit.

During the high-level talks, member states discussed creating a unified digital environment to build a seamless market across a shared economic space of more than 20 million square kilometres.

Delegations focused on trade, joint projects and the development of shared digital tools and AI systems designed to strengthen cooperation and reduce fragmentation across the bloc.

Last year, trade within the union more than doubled, while turnover with third countries rose by 72%, while around 90% of settlements are now conducted in national currencies, as EAEU states also mull a single transit system.

With digitisation driving developments across the union, Kazakhstan’s President Kassym-Jomart Tokayev said trade turnover between EAEU members could increase by around 6%, exceeding €85 billion this year, compared with €80 billion last year.

He added that GDP growth across EAEU countries is projected at around 2.5% for 2026–2027.

Now in its 12th year, the EAEU functions as a single integrated market and free trade zone for its five members – Russia, Belarus, Kazakhstan, Kyrgyzstan and Armenia.

The bloc already has agreements in place with a number of countries including Serbia, Vietnam, the UAE, Mongolia and Indonesia. China remains the bloc’s key partner, accounting for around one-third of external trade.

Integration through AI

Kazakhstan’s Tokayev said that during its chairmanship of the EAEU, the country has proposed the practical use of AI to help implement the bloc’s so-called four freedoms, with the aim of strengthening the competitiveness of member states.

Member states also proposed developing common principles for the responsible use of AI, as well as shared computing capacity and joint model development.

Meanwhile, Russia proposed a high-level AI get-together next year to further cooperation on domestic AI models and connecting its IT and energy infrastructure, according to Russian President Vladimir Putin.

On the ground, pilot projects are already being tested at the EAEU level.

In Kazakhstan, several AI-powered digital assistants have been developed by both government agencies and startups to help citizens navigate legal and regulatory systems more easily.

According to Deputy Minister of Artificial Intelligence and Digital Development Dmitry Mun, these AI legal assistants are designed to simplify legislation, reduce bureaucracy, and make regulatory systems more accessible for citizens and businesses.

Some of these tools are now being tested to streamline processes across member states.

Trade corridors and logistics modernisation

Around 85% of goods travelling from China to Europe are routed through the Middle Corridor, according to officials.

Artificial intelligence is increasingly being deployed alongside the TDN and the Digital Transport Corridor along the Trans-Caspian International Transport Route. Together, these measures are expected to increase non-commodity exports by around 30% over the next two years.

Kazakhstan’s Minister of Trade and Integration Arman Shakkaliyev said the country also aims to leverage major transport routes, including the Middle Corridor and the North–South Corridor, to build a fully integrated logistics ecosystem.

The goal, he said, is to position Kazakhstan as a key regional hub where transport routes converge and large export flows are consolidated.

The ambition is to develop a fully functioning system by 2030, with cargo volumes reaching around 10 million tonnes. Work is already under way, including railway modernisation and new infrastructure development.

Putin visit and bilateral agreements

The summit followed Putin’s state visit to Kazakhstan, during which the two countries signed seven key pillars of bilateral cooperation, along with a broader package of agreements covering energy, transport, finance, education and industrial development.

Russia remains Kazakhstan’s largest investor, with nearly €25 billion already invested and plans to increase that figure further. It is also building Kazakhstan’s first nuclear power plant, valued at around €14 billion.

Putin said the plant would account for around 20% of Kazakhstan’s electricity consumption, adding that financing conditions for such projects are in line with international practice.

He noted that the project supports Russian industrial capacity through equipment orders and long-term maintenance contracts, while also strengthening cooperation between the two countries in uranium and nuclear technology.

For Kazakhstan, officials say the project represents both energy security and a step towards moving beyond raw-material exports to high-value technological cooperation.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Keep Reading

US inflation eases to 3.4% in July as the Fed’s September call stays on a knife edge

European stocks often crash in August: Is this time different?

World markets mixed as oil and gold rise ahead of US inflation data

Heatwaves in France: is thermal comfort becoming a new property criterion?

Tech titan Jeff Bezos eyes Liverpool as more US moguls buy up UK teams

Oil prices and US bond yields rise as Trump and Iran trade reparations demands

MySpace comeback? Owners drop a major hint and here’s what we know

Oil prices rise as traders assess US-Iran talks on Strait of Hormuz deal

Holiday affordability in Europe: Where can people afford a break?

Editors Picks

Musk’s SpaceX booked a 17th-century palace to watch Spain’s eclipse

August 12, 2026

Jack Lowden for James Bond: Did British TV presenter and author Richard Osman leak identity of the new 007?

August 12, 2026

Mount Etna eruption: Catania airport closes and ash cloud reaches as far as Libya

August 12, 2026

Video. Europe scrambles for eclipse glasses as solar power output set to dip

August 12, 2026

Subscribe to News

Get the latest Europe and world news and updates directly to your inbox.

Latest News

US inflation eases to 3.4% in July as the Fed’s September call stays on a knife edge

August 12, 2026

British driver sets speed record in hydrogen-powered car

August 12, 2026

Europe’s new border system is causing huge airport queues as EES wait times double

August 12, 2026
Facebook X (Twitter) Pinterest TikTok Instagram
© 2026 Daily Guardian Europe. All Rights Reserved.
  • Privacy Policy
  • Terms
  • Advertise
  • Contact

Type above and press Enter to search. Press Esc to cancel.