EAEU pivots to Pakistan to deepen South Asia footprint

The Eurasian Economic Union (EAEU) has identified Pakistan as a key prospective partner in South Asia, signalling a growing strategic focus on deepening economic and trade ties with Pakistan amid shifting regional trade dynamics.

The development came during a meeting between the Member of the Board – Minister in charge of Trade of the Eurasian Economic Commission, Andrey Slepnev and the Federal Minister for Commerce of Pakistan, Jam Kamal Khan, on Monday, read an official statement.

EAEU is an economic union of post-Soviet states, established in 2015 to promote free trade, economic integration, and the free movement of goods, services, capital, and labour among its members. With a combined GDP of around $3 trillion, it is headquartered in Moscow and comprises Russia, Belarus, Kazakhstan, Kyrgyzstan, and Armenia.

“The EAEU and its member states pay great attention to the development of mutually beneficial relations with countries of South Asia,” said Slepnev.  “The EAEU considers the Islamic Republic of Pakistan as one of the prospective partners in the region,” he added.

The EAEU official noted that trade between the EAEU and Pakistan is developing dynamically and has a significant potential for expansion.

​Meanwhile, Jam Kamal noted that Pakistan views enhanced cooperation with the EAEU not only as a trade opportunity “but also as a strategic partnership in areas such as logistics, energy cooperation, digital trade, industrial collaboration, and supply chain integration”.

“Pakistan supports the initiation of structured dialogue mechanisms with the Eurasian Economic Commission aimed at exploring a trade agreement, subject to the outcome of the joint feasibility study,” he said.

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Pakistan reaffirmed its readiness to work closely with the Eurasian Economic Union and its member states in a constructive and forward-looking manner to unlock the full potential of trade and investment cooperation, read the statement.

Both sides noted that there are good prospects for the development of trade and economic cooperation between the EAEU and Pakistan.

With the aim to assess economic implications and determine the feasibility of introducing a preferential trade regime between the EAEU and Pakistan, both sides agreed to initiate setting up the joint feasibility study group in accordance with respective legal procedures, read the statement.