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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 mulling possibility to start talks over free trade deal with EAEU - Sergey Lavrov
ASEAN is considering the possibility to start negotiations with the Eurasian Economic Union (EAEU) on creation of a free trade agreement
Kyrgyzstan ratifies EAEU-China agreement on trade, economic cooperation
Kyrgyzstan President has ratified the trade-economic cooperation between the Eurasian Economic Union member states from one side and China from the other.
EAEU, Egypt successfully complete 1st round of talks on FTA
The talks focused on the main provisions of the Agreement and set the schedule of the further work.
EAEU, Serbia plan to sign free trade deal in 2019 — Putin
Another round of talks on the agreement was held in Belgrade early January 2019.
EAEU, MERCOSUR sign memorandum of understanding
MERCOSUR expects to identify topical areas of cooperation and dialogue in order to begin work on expanding economic and trade relations with the Eurasian Economic Union.
Argentina to give new impetus to EAEU-Mercosur trade talks - Macri
The Argentine president held talks with Russia’s Vladimir Putin on the sidelines of the G20 summit to re-energize the stalling talks on trade between South America’s Mercosur and the Eurasian Economic Union of five former Soviet nations.
Egypt signs framework document for negotiations on FTA with Eurasian countries
Agreement to create a continuous discussion on issues of bilateral, international economic cooperation of common concern.
Duma endorses Iran-EEU free trade zone deal
Russia’s State Duma has endorsed an agreement for the establishment of a free trade zone between Iran and the Eurasian Economic Union.
Cambodia and EAEU fortify ties, consider FTA
Cambodian officials pleaded last week with representatives of the Eurasian Economic Union (EAEU) to include more Cambodian products into the bloc’s joint tariff scheme during a high level diplomatic meeting in Moscow.
Iran signs provisional pact to enter Russia-led free-trade zone
The five-nation Eurasian Economic Union has signed a 3-year provisional agreement with Iran to welcome the Islamic Republic into the bloc’s free-trade zone.