Eurasian Economic Union (EAEU)
| Section | Details |
|---|---|
| Introduction | – The Eurasian Economic Union (EAEU) is an international organization established on January 1, 2015. – It aims to facilitate economic integration among member states, focusing on the free movement of goods, services, capital, and labor, while fostering cooperation and development. |
| Objectives | – Economic Integration: Develop a single market for goods, services, capital, and labor. – Harmonization of Policies: Align economic policies for coordinated development. – Infrastructure Development: Enhance connectivity through joint infrastructure projects. – Global Competitiveness: Strengthen the global economic standing of member states. |
| Members (Dec 2024) | – Founding Members: Russia, Belarus, Kazakhstan. – Additional Members: Armenia (joined January 2, 2015) and Kyrgyzstan (joined August 6, 2015). – Observers: Cuba and Uzbekistan hold observer status within the EAEU. |
| Reports/Indices | – Annual Reports: Comprehensive overviews of the EAEU’s activities, economic performance, and integration progress. – Trade and Economic Indicators: Regular updates on trade volumes, economic growth, and key metrics. – Integration Monitoring Reports: Assess the effectiveness of integration measures. – Eurasian Economic Integration Reports: Insights into trade and economic interactions among member states and third countries. – Macroeconomic Monitoring Reports: Monitor macroeconomic indicators defining sustainable development. – Legal Reports: Provide updates on treaties, acts, and regulations within the EAEU framework. |
| Instruments | – Treaty on the Eurasian Economic Union: Foundational legal document establishing the EAEU. – EAEU Customs Code: Governs customs regulations and procedures. – Technical Regulations: Standardize product safety and quality requirements. – Common Customs Tariff: Establishes unified tariff rates for goods imported into the EAEU. – Harmonization Agreements: Create consistent standards for labor, agriculture, and industrial cooperation. |
| Structure | – Supreme Eurasian Economic Council: Highest decision-making body, comprising the heads of state of member countries. – Eurasian Intergovernmental Council: Comprising heads of government, it addresses issues requiring intergovernmental coordination. – Eurasian Economic Commission (EEC): Permanent regulatory body responsible for implementing decisions and managing operations. – Court of the Eurasian Economic Union: Ensures uniform application of EAEU legal acts and resolves disputes. |
| Subsidiary Organs | – Departments within the Eurasian Economic Commission (EEC): Focus on areas such as trade, customs cooperation, technical regulation, and macroeconomic policy. – Advisory Committees: Provide expert analysis and recommendations on industry, agriculture, energy, and trade. – Working Groups: Specialized teams addressing specific integration challenges and technical standardizations. |
| Committees | – Council of the Eurasian Economic Commission (EEC): Composed of deputy prime ministers from member states, overseeing commission activities. – Board of the Eurasian Economic Commission: Ministers responsible for specific sectors such as economy, trade, and finance implement EAEU policies and decisions. – Budgetary and Policy Review Committees: Assess and recommend fiscal and policy adjustments for EAEU programs. |
| Initiatives | – Digital Agenda of the EAEU: Integrates digital technologies to enhance competitiveness and innovation. – Common Energy Markets: Develops unified markets for electricity, gas, and oil to ensure energy security. – Unified Transport Space: Implements coordinated transport policies and infrastructure projects. – Industrial Cooperation: Encourages joint industrial projects and transnational corporations. – Agricultural Development Programs: Focus on food security and unified agricultural policies. – Common Labor Market: Creates a unified labor market for free movement of workers and harmonization of labor standards. – Harmonization of Technical Regulations: Unifies product safety and quality standards across member states. – International Cooperation Agreements: Expands trade and economic relations through partnerships with non-member countries and organizations. – Macroeconomic Stability Projects: Focus on ensuring sustainable development and financial stability. |
