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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


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.
Talks on free trade zone between EAEU and Egypt to start in autumn of 2018 — Lavrov
The start of negotiations between the EAEU and Egypt on the preparation of an agreement to establish a free trade zone is scheduled for autumn 2018.
Russia’s PM signs agreement on establishing free trade zone between EAEU and Iran
The agreement provides for the formation of a free trade area on a limited range of goods between the EAEU and Iran.
Israel, EAEU resume talks on free trade agreement - Israeli ambassador in Russia
Israel has resumed negotiations with Russia on joining the Eurasian Economic Union (EAEU), Israeli Ambassador to Russia, noting the developing economic relations as well as increasing trade between the two countries.
Thailand and Russia-led bloc to launch free trade talks
Partners aim to triple trade to $10bn by 2020.
India, Eurasian Economic Union to hold talks on trade pact
The Indian government has worked out the details of a possible free trade agreement with the five nation Eurasian Economic Union.