HISTORY

In 1990s, After the cold war, the economic of Russia & the Central Asian republics was
weakened and faced declines in GDP.
So In 1994: President of Kazakhstan suggested creating a "Eurasian Union" to connect to and
profit from the growing economies of Europe and East Asia.
EAEU was established in 2014 and entered into force in 2015. At that time, EAEU members
just includes: Belarus, Kazakhstan and Russia, a year after Armenia and Kyrgyzstan became
Member States of the EAEU.

The main OBJECTIVES of the EAEU shall include:

 to create conditions for stable economic development of the member States in order to
improve the living standards of their people;
 to create a common market for goods, services, capital and labor within the EAEU;
 comprehensive modernization, cooperation and competitiveness of national
economies within the global economy.

TREATY

In 1995, Belarus, Kazakhstan, Russia, Kyrgyzstan and Tajikistan signed the first agreements
on the establishment of a Customs Union. Its purpose was the creation of open borders
without passport controls between member states.

In 1999, Belarus, Kazakhstan, Russia, Kyrgyzstan and Tajikistan signed the Treaty on the
Customs Union and the Single Economic.
To promote further economic integration and more cooperation, in 2000 Belarus, Kazakhstan,
Russia, Kyrgyzstan and Tajikistan established the Eurasian Economic Community
(EurAsEC) which Uzbekistan joined in 2006. The treaty established a common market for its
member states.

2010
Belarus, Kazakhstan, Russia Established Customs Union

2012
Belarus, Kazakhstan, Russia Established of the Single Economic Space,

2015
Treaty on the Eurasian Economic Union
Eurasian Economic Commission started functioning

MEMBER STATES
The first benifits of EAEU’s members is The Four Freedoms in the EAEU includes Freedom
of goods movement, Freedom of capital movement, Freedom of labor movement, Freedom of
services movement.
http://www.eurasiancommission.org/ru/Documents/2797_1_EEK_
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Besides, EAEU also Helped member states in economic growth, industrial and agricultural
developments and positive results in some areas.
For example:
 After joining EEU Belarus can access much-needed financial resources and cheap
energy from Russia.
 After signing the CU agreement in 2010, Economic and trade relations between
Kazakhstan and Russia improved.

THIRD COUNTRIES
These are all EAEU’s Cooperation.
The total volume of foreign trade in goods of the EAEU States with third countries amounted
to 753.5 billion US dollars in 2018.

For example:

Since the end of 2016 FTA agreement have been successful in increasing exports and
demonstrated great effectiveness in a short time. A year after the agreement entered into
force, trade turnover between the EAEU countries and Vietnam increased by 36.7%, and by
another 12.8% in 2018.

The Agreement on Trade and Economic Cooperation with China came into force on October
25, 2019. In 2018, Goods turnover between the EAEU countries and China increase
23% observed in 2018 as compared to the previous year.