Economies of all EAEU countries enter growth trajectory

After a period of economic slowdown last year and early this year, over the recent six months GDP grew by 1.8% to the first half of last year, preliminary estimates say. These figures were announced after the meeting of the Council of the Eurasian Economic Commission. Where, among other things, the countries reached an agreement on mutual recognition of bank guarantees for public procurement. The document gives Union’s suppliers more opportunities for effective work in the EAEU market, and removes a number of existing barriers. The agreement stipulates uniform criteria for banks whose guarantees will be recognized in other states of the Union. In addition, at the council meeting the five EAEU countries decided to work more actively in the African direction. The plans are to increase mutual trade, strengthen interaction between business circles and establish cooperation with the African Export-Import Bank.