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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


Eurasian Union, Serbia sign free-trade agreement
The trade agreement not only fully harmonizes the terms of trade of Belarus, Kazakhstan and Russia with Serbia, but also creates a similar regime for Armenian and Kyrgyz goods.
EAEU-China trade and economic cooperation agreement takes effect
The agreement on trade and economic cooperation between the Eurasian Economic Union (EAEU) and China came into force on 25 October.
Mauritius wants to sign FTA with Eurasian Economic Union ’in near future’ - President
Mauritius wants to sign a free trade agreement with the Eurasian Economic Union "in the near future," Paramasivum P. Vyapoory, the acting president of the island nation said.
Serbia to sign free trade deal with EAEU in October - Foreign Minister
Serbia is on the cusp of signing a free trade agreement with the Russia-led Eurasian Economic Union (EAEU), Serbian Foreign Minister Ivan Dacic said.
Egypt-EAEU to reach free trade zone agreement by mid-2020 - Egypt’s Trade Minister
The Eurasian Economic Union (EAEU) and Egypt may sign a free trade zone agreement by mid-2020, Egypt’s Minister of Trade and Industry said.
EAEU-Singapore free trade agreement signed in Yerevan
Prime ministers of Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia and Singapore signed a Free Trade Agreement and a Framework Agreement on Comprehensive Economic Cooperation between the EAEU Member States and Singapore.
Cambodia, EAEU to negotiate FTA
Cambodian officials will next month embark on a visit to Russia to discuss a free trade agreement with the Eurasian Economic Union, a bloc of countries in central and northern Asia and Eastern Europe with a combined GDP of $5 trillion.
Putin, Netanyahu agree to boost talks on EAEU-Israeli free trade agreement - Lavrov
Russian President and Israeli Prime Minister expressed a wish to boost adjusting agreements on a free trade area between Israel and the Eurasian Economic Union.
EEU FTA in progress
Thailand could see a windfall in bilateral trade though an upcoming free trade agreement (FTA) with the Russia-led Eurasian Economic Union (EEU).
Singapore to join Russia-led free-trade zone in October
One of the leading Asian economies, Singapore, is set to ink a free trade agreement with the Russian-led Eurasian Economic Union.