EAEU strengthens trade ties and embraces digital growth in 2023 summit
The Eurasian Economic Union (EAEU) approved several new trade and cooperation initiatives during its latest meeting on 29 May 2023. Leaders from member states agreed on updates to existing deals, launched fresh negotiations, and set priorities for digital and economic growth across the bloc. One key decision saw the EAEU update its 2019 free trade agreement with Serbia. The bloc also began formal free trade talks with Tunisia, aiming to expand its economic reach beyond traditional markets. This move aligns with Kazakh President Kassym-Jomart Tokayev’s call to diversify partnerships and strengthen the union’s global trade position.
The meeting also focused on digital progress. Tokayev highlighted the need for digital transformation in industry and agriculture, describing it as essential for modernising Eurasian transport corridors. Alongside this, the EAEU adopted a joint statement on the responsible development of artificial intelligence, signalling a coordinated approach to emerging technologies. Armenian Deputy Prime Minister Mher Grigoryan welcomed amendments to the EAEU Treaty that will provide financial support to the agro-industrial sector. Meanwhile, the union reviewed its trade policy achievements over the past five years and finalised a five-year joint action plan with Cuba to boost practical cooperation.
The EAEU’s latest decisions mark a push toward broader trade ties and digital advancement. With updated agreements, new negotiations, and a focus on technology, the bloc aims to strengthen its economic influence and modernise key sectors in the coming years.
