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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


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).
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.