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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


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.
Eurasian Economic Commission expands talks on free trade zones
The Eurasian Economic Commission continues to negotiate partnerships with Egypt, Israel and India, said EAEU trade official.
Cambodia pushes hard on free-trade agreements
Cambodia’s government is pushing for free-trade agreement (FTA) talks with potential partners while seeking Russian’s help for a Eurasian Economic Union (EAEU) free trade agreement.
Belarusian parliament to ratify EAEU–Serbia FTA during spring session
The House of Representatives of the National Assembly of Belarus will consider ratifying the agreement on a free trade zone between the Eurasian Economic Union (EAEU) and Serbia.
Belarusian dairy companies certified for export to Vietnam
This will allow more efficient use of opportunities granted by the Vietnam-EAEU free trade agreement and increase export of Belarusian milk and dairy products to Vietnam.
EAEU removes import tariffs on 10 Iranian products
TEHRAN- The Eurasian Economic Union (EAEU) has removed tariff rates for the import of 10 Iranian products, according to the head of the Iranian National Union of Agricultural Products.
Support for Kingdom in Russia FTA
Prime Minister Hun Sen on Monday said Russian Ambassador to Cambodia Dmitry Tsvetkov has pledged to support Cambodia as it moves towards a free trade agreement (FTA) with the federation.
Kingdom, Russia set to boost trade, investment
Cambodia and Russia have pledged to increase bilateral trade and investment as the Kingdom aims to diversify its market through the Eurasia Economic Union (EAEU).
India & Russia plan to open new trade route via Iran despite threat of US sanctions
Opening a long-pending multi-modal transportation corridor via Iran will be a big boost for bilateral trade between Russia and India, but it’s not just the economy at stake. This is a bold move against the threat of US sanctions.
Israel, EAEU may sign free trade deal in 2021
The talks have already reached significant progress and are on the finish line, said the co-chair of the Russian-Israeli intergovernmental commission.