Eurasian Economic Union

Eurasian Economic Union
  • Armenian:Եվրասիական տնտեսական միություն
    Belarusian:Еўразійскі эканамічны саюз
    Kazakh:Eurazialyq Ekonomikalyq Odaq
    Kyrgyz:Евразиялык экономикалык биримдик
    Russian:Евразийский экономический союз
Coat of arms of Eurasian Economic Union
Coat of arms
  Member states
  Territories occupied by Russia[1]
Administrative centers
Largest cityMoscow
55°45′N 37°37′E / 55.750°N 37.617°E / 55.750; 37.617
Working languageRussian
TypeEconomic union
Member states
Member states:

Observers:

Leaders
• Chairman of the Supreme Eurasian Economic Council (2024)
Armenia Nikol Pashinyan
• Chairman of the Board of the Eurasian Economic Commission
Kazakhstan Bakhytjan Sagintayev
Establishment
• Original proposala
1994
10 October 2000
1 January 2010
• Establishment agreed
18 November 2011
1 January 2012
• EAEU Treaty signed
29 May 2014
• EAEU established
1 January 2015
Area
• Total
20,229,248[2] km2 (7,810,556 sq mi)
Population
• 2022 estimate
Increase 182,131,000[3]
• Density
9.12/km2 (23.6/sq mi)
GDP (PPP)2022 estimate
• Total
Increase US$5.677 trillion[3]
• Per capita
$31,200
GDP (nominal)2022 estimate
• Total
Increase US$2.573 trillion[3]
• Per capita
$14,100
Currency
Time zoneUTC+2 to +12
Drives onright
Calling code
4 codes
Internet TLD

The Eurasian Economic Union (EAEU or EEU)[note 1] is an economic union of five post-Soviet states located in Eurasia. The EAEU has an integrated single market. As of 2023, it consists of 183 million people and a gross domestic product of over $2.4 trillion.[3]

The Treaty on the Eurasian Economic Union was signed on 29 May 2014 by the leaders of Belarus, Kazakhstan, and Russia, and came into force on 1 January 2015.[4] Treaties aiming for Armenia's and Kyrgyzstan's accession to the Eurasian Economic Union were signed on 9 October and 23 December 2014, respectively. Armenia's accession treaty came into force on 2 January 2015. Kyrgyzstan's accession treaty came into effect on 6 August 2015.[5] Kyrgyzstan participated in the EAEU from the day of its establishment as an acceding state.[6][7]

The EAEU encourages the free movement of goods and services, and provides for common policies in the macroeconomic sphere, transport, industry and agriculture, energy, foreign trade and investment, customs, technical regulation, competition, and antitrust regulation. Provisions for a single currency and greater integration are envisioned for the future.[8][9] The union operates through supranational and intergovernmental institutions.[10] The Supreme Eurasian Economic Council is the supreme body of the Union, consisting of the Heads of the Member States. The second level of intergovernmental institutions is represented by the Eurasian Intergovernmental Council (consisting of the Heads of the governments of member states). The day-to-day work of the EAEU is done through the Eurasian Economic Commission, the executive body of the Union. There is also a judicial body – the Court of the EAEU.[11]

  1. ^ Taylor & Francis (2020). "Republic of Crimea". The Territories of the Russian Federation 2020. Routledge. ISBN 978-1-003-00706-7. Note: The territories of the Crimean peninsula, comprising Sevastopol City and the Republic of Crimea, remained internationally recognised as constituting part of Ukraine, following their annexation by Russia in March 2014.
  2. ^ a b "Countries by Area". Nations Online Project. Retrieved 26 August 2014.
  3. ^ a b c d "Report for Selected Countries and Subjects: October 2023". International Monetary Fund. Retrieved 26 October 2020.
  4. ^ "Страницы - DisplayDocument.aspx". Archived from the original on 17 April 2016. Retrieved 9 April 2016.
  5. ^ "Member States of the EEU". Eurasian Commission. Retrieved 5 August 2015.
  6. ^ Farchy, Jack (23 December 2014). "Eurasian unity under strain even as bloc expands". The Financial Times. Retrieved 26 December 2014. Kyrgyzstan on Tuesday a signed the Treaty to join the Eurasian Economic Union, expanding the membership of Moscow-led project to five even as its unity is strained by the market turmoil gripping Russia.
  7. ^ "Eurasian Economic Union to Launch on 1 January". The Trumpet. 24 December 2014. Retrieved 26 December 2014. Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan agreed to a January 1 inauguration.
  8. ^ Cite error: The named reference WaPost was invoked but never defined (see the help page).
  9. ^ Cite error: The named reference currency was invoked but never defined (see the help page).
  10. ^ "What is the Eurasian Economic Union?". Chatham House – International Affairs Think Tank. 15 July 2022. Retrieved 5 February 2023.
  11. ^ Article 8 and 10, Treaty on the Eurasian Economic Union


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