Russia Interested In Integration Of Latin American Associations’ Into The Eurasian Economic Union (EEU)

Posted by EM_Equity ⋅ March 25, 2015 ⋅ Leave a comment

Filed Under Argentina, Armenia, Belarus, Brazil, CELAC, Central Asia, Colombia, Economics, Economy, EEU, Eurasia, Eurasian Economic Union, Government, investing, Investment, Kazakhstan, Kyrgyzstan, Latam, LATIN AMERICA, Mercosur, Pacific Alliance, Paraguay, Politics, Russia, Sergey Lavrov, South America, Trade, UNASUR, Uruguay, Venezuela

Russia is interested in Latin American associations’ integration into the Eurasian Economic Union (EEU), Russian Foreign Minister Sergey Lavrov said on Wednesday, TASS news agency reports.

“We welcome Columbia’s active role in promoting integration processes in the region, including in the framework of CELAC [Community of Latin American and Caribbean States], UNASUR [Union of South American Nations], Pacific Alliance [Latin American trade bloc], Mercosur [sub-regional bloc comprising Argentina, Brazil, Paraguay, Uruguay and Venezuela]. Russia is interested in deepening its ties with these structures both on bilateral basis and in the framework of EEU,” Lavrov said following a meeting with his Colombian counterpart Maria Angela Hualgin.

The Eurasian Economic Union is an economic and political bloc which consists of Russia, Kazakhstan, Belarus, and Armenia, with Kyrgyzstan to join in May 2015.

The treaty to form EEU went into full effect on January 1, 2015. The population of the union is about 171 million people and its gross domestic product (GDP) is expected to reach $3 trillion next year.