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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


Kingdom-EAEU team to push for FTA
Cambodia is reportedly keen to set up a new joint team with the Eurasian Economic Union (EAEU) to conduct a more detailed examination of the possibility of formally launching free trade agreement (FTA) talks with the bloc soon, and add impetus to underwhelming bilateral trade ties.
Mongolia mulls possibility of signing free trade agreement with EAEU — President
Mongolia is considering the possibility of concluding a free trade agreement with the Eurasian Economic Union (EAEU), the country’s President Khurelsukh Ukhnaa said at the plenary session of the Eastern Economic Forum (EEF).
Ecuador will seek a trade agreement with Russia after the elimination of preferences
Ecuador to promote a free trade agreement with the Eurasian Economic Union (EAEU), as the generalized system of preferences granted by Russia expires on October 11.
Negotiations on free trade agreement between EAEU, Iran launched
Negotiations have begun on creating a permanent free trade zone between the Eurasian Economic Union (EAEU) and Iran.
Serbia-Eurasian Economic Union free trade agreement enters into force
The free trade agreement replaces current bilateral agreements with EAEU members, most notably Russia.
Russia welcomes creation of free trade zone between EAEU, Indonesia, says Lavrov
Russia welcomes the restart of the talks between the Eurasian Economic Union (EAEU) and Indonesia on the free trade zone creation, Russian Foreign Minister Sergey Lavrov told a news conference after the talks with his Indonesian counterpart Retno Marsudi.
Eurasian Economic Commission: free trade talks with Iran to start soon
After languishing for nearly four years, India and Canadian negotiators have resumed discussions this week towards a possible trade pact.
Talks over full-fledged EAEU-Iran free trade zone to begin soon
The negotiations on a full-fledged free trade zone between the Eurasian Economic Union (EAEU) and Iran are set to start in the near future.
Mongolia-EEU free trade agreement to boost Moscow-Ulan Bator economic ties - Lavrov
Negotiations continue between Mongolia and the Eurasian Economic Commission on the possibility of concluding an agreement on a free trade area.
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.