"Countries of EEU are just learning to develop the economy jointly," the head of the world economy research team at the Center for Macroeconomic Analysis and Short-Term Forecasting Alexander Apokin said today at the 10th International Conference "Eurasian Economic Integration."
According to him, the Eurasian Economic Union is a young association. "It is too early to compare it with the same European Union. At the same time they are institutionally different. The countries of the union not only build economic development, but also together face the shocks," he said.
"The behavior of the economies of the EEU countries in the crisis is different. Ways to adapt shocks are also different. For example, the analysis of mutual trade of Russia and Kazakhstan shows that the level of foreign trade in these countries declined more than inside. In Belarus, Armenia and Kyrgyzstan, the situation is opposite. If you clear the data on the volume of trade on the price factor, we note that there is no such a serious physical decline in mutual trade," Alexander Apokin said.