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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


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.
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.
EAEU-Iran trade deal to take effect on October 27: report
Officials from both parties exchanged messages about completing the necessary procedures to enforce an interim agreement leading to the formation of the free trade area.
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.
Iranian president orders to start implementing free trade zone agreement with EAEU
Iranian President Hassan Rouhani has tasked the country’s Ministry of Industry, Mine and Trade to start implementing the free trade zone agreement with the Eurasian Economic Union.
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".