Deputy Minister of Economic Development Volvach: GDP growth of the EAEU in 2016-2020 amounted to 3.7 percent 
Deputy Minister of Economic Development Dmitry Volvach member countries of the Eurasian Economic Union (EAEU) from membership in the organization. Excerpts from his speech at the Second Eurasian Congress with Lenta.ru were shared by the press service of the ministry.
According to Volvach, thanks to the integration processes within the EAEU, which includes Russia's neighbors (Belarus, Kazakhstan, Armenia and Kyrgyzstan), the growth of the real aggregate GDP of the members from 2016 to 2020 amounted to 3.7 percent.
“At the same time, the integration processes softened the crisis phenomena of the world economy in 2020, which led to a decrease in the EAEU mutual trade in 2020 by 13.6 percent. Without integration, this drop could be almost 19 percent, “Volvach added.
The EAEU was created in 2015 to replace the Eurasian Economic Community (EurAsEC) that existed since 2001. In addition to full members, observer states take part in the union's events: Moldova, Uzbekistan and Cuba.