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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


ASEAN countries want free trade agreements to develop Russian trade
Numerous ASEAN member states called for improvements in the region’s free trade status with Russia at this week’s Far East Economic Forum in Vladivostok.
Russia, India ready to negotiate FTA agreement
Russia is ready to start negotiating with India to set up a Free Trade Area with the Eurasian Economic Union.
Serbia to sign free trade zone agreement with EAEU on October 25
The agreement on a free trade zone between the Eurasian Economic Union (EAEU) and Serbia will be signed on October 25, Russian ambassador to Serbia wrote.
EAEU, Singapore may sign free trade agreement on 1 October
A free trade agreement between Singapore and the Eurasian Economic Union (EAEU) may be signed during a session of the Supreme Eurasian Economic Council in Yerevan on 1 October.
Medvedev sees huge potential in expansion of EAEU members cooperation with third countries
According to the Russian Prime Minister, "bilateral trade and trade with third countries has gained a lot thanks to the Union".
Belarus to help advance EAEU-Serbia free trade zone negotiations
Belarus supports the idea of creating a free trade zone between the Eurasian Economic Union (EAEU) and Serbia and will help advance these negotiations.
Kazakhstan, other EAEU countries to reduce import duties on Iran on 502 goods
At the plenary session of the Senate of Kazakhstan, the deputies adopted a law on ratification of a temporary agreement on the formation of a free trade zone between the countries of the Eurasian Economic Union (EAEU) and Iran
Egypt, EAEU seek establishing free trade zone
The talks took up the issues of customs cooperation, trade movement and rules of origin along with competition and prevention of monopoly.
Kingdom seeks FTA with EAEU
Cambodia is negotiating a free trade agreement (FTA) with the Eurasian Economic Union (EAEU), hoping the new market will maintain the Kingdom’s economic growth.
Serbia and EAEU harmonize free trade deal
A Serbian delegation headed by Minister of Trade Rasim Ljajic is in Moscow Ljajic to finalize a deal on free trade between Serbia and the Eurasian Economic Union (EAEU).