Eurasian Economic Union (EAEU or EEU)

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Eurasian Economic Union (EAEU or EEU)

Eurasian Economic Union

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The Eurasian Economic Union (EAEU) is an international organization for regional economic integration. It has international legal personality and was established by the Treaty on the Eurasian Economic Union in 2015.
The EAEU provides for free movement of goods, services, capital and labor, pursues coordinated, harmonized and single policy in the sectors determined by the Treaty and international agreements within the Union.
The Eurasian Economic Union has an integrated single market of 184 million people and a gross domestic product of over $5 trillion.
Unlike the European Union (EU), the EAEU does not share a common currency.

Formation of the Eurasian Economic Union

The Treaty on the Eurasian Economic Union (EAEU) was signed on 29 May 2014 by the heads of Belarus, Kazakhstan, and Russia, laying the foundation for deeper regional economic integration. The treaty officially came into force on 1 January 2015.
Later, Armenia and Kyrgyzstan acceded to the Union by signing separate treaties on 9 October 2014 and 23 December 2014, respectively.

Members

Member Countries:

Armenia
Belarus
Kazakhstan
Kyrgyzstan
Russia

Governance

Supreme Eurasian Economic Council
- The Supreme Eurasian Economic Council is the supreme body of the Union, which includes the Heads of the EAEU Member States.
The Eurasian Intergovernmental Council
- The Intergovernmental Council is a Union’s body consisting of the Heads of the Member-States Governments.
Eurasian Economic Commission
- Eurasian Economic Commission is a permanent supranational regulatory body of the Union, with its members appointed by the Council of the Commission and the Board of the Commission.
- The core tasks of the Commission are fostering the conditions to support the operation and development of the Union, and drafting proposals in the field of economic integration within the Union.
Court of the Eurasian Economic Union
- The Court of the Eurasian Economic Union is the court of justice of the Eurasian Economic Union, which ensures the uniform application of the EAEU Treaty and other Union treaties by the Union Member-States and bodies.

Frequently Asked Questions (FAQs)

1. What is the Eurasian Economic Union (EAEU)?

The EAEU is an international organization established to promote regional economic integration among its member states. It allows for the free movement of goods, services, capital, and labor, and coordinates economic policies across key sectors.

2. When was the EAEU established?

The EAEU was formally established on 1 January 2015, following the signing of the Treaty on the Eurasian Economic Union on 29 May 2014.

3. Which countries are members of the EAEU?

The EAEU consists of five member states: Russia, Belarus, Kazakhstan, Kyrgyzstan, and Armenia.

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