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EAEU

The Eurasian Economic Union (EAEU) is an economic union of former Soviet Union member states. It is comprised of Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia. The treaty establishing the EAEU was signed on 29 May 2014 by Russia, Kazakhstan and Belarus, and came into force on 1 January 2015. Armenia and Kyrgyzstan accessed the Union on 2 January 2015 and 6 August 2015, respectively.

The EAEU was set up to challenge the economic influence of the US and the European Union, and to counter the two super powers’ attempts to isolate Russia.

The EAEU provides for free movement of goods, services, capital and labour. Member states have a common trade policy regime regarding third countries.

The EAEU has been very active negotiating trade deals.

It has two free trade agreements in force with Vietnam (2016) and Iran (interim FTA, 2019), as well as an agreement on economic and trade cooperation with China (2019).

It has signed FTAs with Serbia (2019) and Singapore (2019).

It has been discussing trade deals with Cambodia, Chile, Egypt, India, Indonesia, Israel, Korea, Mercosur and Peru.

Potential negotiations with ASEAN, Bangladesh, Brazil, the Gulf Cooperation Council, Mauritius, Mexico, Mongolia, New Zealand and Thailand could also emerge further down the line.

In addition, the EAEU has a free trade area with Moldova, Tajikistan, Ukraine and Uzbekistan, as part of the Commonwealth of Independent States Free Trade Area, which was established in 2012. On 1 January 2016, Russia suspended the agreement with Ukraine, following the provisional application of the European Union-Ukraine trade deal.

Last update: March 2020

Photo: German Marshall Fund of the United States


Agricultural trade between Russia and Vietnam has increased strongly
The free trade agreement between the EAEU and Vietnam, which has been effective since October 2016, has contributed to such active growth.
EAEU–Iran trade and its prospects
Negotiations on a full-scale free trade agreement between Iran and the Eurasian Economic Union (EAEU) are planned for the second half of 2021.
Talks begins for Iran-EEU free trade
Iran and Eurasian Economic Union are holding talks on abolishing customs duties to reach free trade with zero tariffs, after a three-year provisional agreement that was signed in 2018.
EAEU eyes free trade agreements with Indonesia, Mongolia
The Eurasian Economic Union (EAEU) is considering an opportunity of establishing free trade zones with Indonesia and Mongolia.
EAEU to set up free trade zones with Egypt, India, Indonesia, Mongolia
The Eurasian Economic Union (EAEU) is conducting necessary work to conclude free trade agreements with Egypt, India, Indonesia, and Mongolia. In particular, EAEU plan to resume the negotiation process in the first half of the year, to hold negotiations along the tracks that they have.
Kazakh Parliament ratifies free trade agreement between EAEU, Serbia
Senate (upper house) of Kazakhstan’s Parliament has ratified the law draft on ratification of the free trade agreement between the Eurasian Economic Union (EAEU) and its member states, and Serbia, Trend reports citing Kazakh media.
Egypt, Eurasian Economic Union discuss free trade agreement
Officials met as part of preparations for the fourth round of negotiations between Egypt and the EAEU on free trade agreement, which is scheduled to be held in the first quarter of 2021.
Russia ratifies Serbia’s free trade deal with EAEU
The upper house of the Russian Parliament, said it has ratified the free trade agreement signed by Serbia with the Eurasian Economic Union (EAEU).
Iran-EAEU FTA taskforce holds online meeting
Converting the current temporary agreement into a permanent one requires the development of the current infrastructure.
EAEU, Egypt to step up FTA talks
A number of chapters have already been drafted; some others are nearing completion; the remaining chapters are still under expert evaluation.