The EAEU can become a member of the G20: Lavrov

The Eurasian Economic Union (EAEU) is demonstrating positive dynamics, investing in the development of global economic ties, and in the future will be able to claim a place in the Group of Twenty (G20).

 As TASS reports, this was announced by Russian Foreign Minister Sergei Lavrov at a press conference on the results of the G20 Foreign Ministers' meeting in South Africa.

He recalled that since last year, the African Union has already become a full member of the G20, and now the League of Arab States and the Community of Latin American and Caribbean States are interested in it.

"We welcome this attitude and believe that at some point the Eurasian Economic Union may claim a similar status, since all of the above-mentioned associations are demonstrating positive dynamics in terms of their contribution to the development of international economic relations," the minister noted.

Russian Deputy Prime Minister Alexei Overchuk suggested that the Caspian Five countries consider the benefits of rapprochement with the EAEU.

" Iran's membership in the EAEU as an observer state contributes to the strengthening of economic ties in the region. I also invite other participants of the Caspian Five to think about the benefits of rapprochement with the EAEU," Overchuk said, speaking at the Third Caspian Economic Forum in Tehran.

During his speech, he also said that Russia and Iran have almost completely switched to calculations in national currencies. The most promising areas for the development of trade and economic cooperation with Iran are energy, automotive and aircraft manufacturing, shipbuilding, pharmaceuticals, and transport infrastructure .

The share of national currencies in mutual settlements within the EAEU is more than 92%.

Currently, the EAEU is comprised of Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia, and observer states are Moldova, Uzbekistan, Cuba, and Iran.

The Caspian Five includes Russia, Azerbaijan, Iran, Kazakhstan, and Turkmenistan.