Eurasian Economic Union facts for kids

Quick facts for kids Eurasian Economic Union Armenian: Եվրասիական տնտեսական միություն Belarusian: Еўразійскі эканамічны саюз Kazakh: Eurazialyq Ekonomikalyq Odaq Kyrgyz: Евразиялык экономикалык биримдик Russian: Евразийский экономический союз
Flag Coat of arms
Member states     Territories occupied by Russia
Administrative centers	Moscow, Russia (Commission) Minsk, Belarus (Court)
Largest city	Moscow 55°45′N 37°37′E / 55.750°N 37.617°E / 55.750; 37.617
Working language	Russian
Type	Economic union
Member states	Member states:  Armenia  Belarus  Kazakhstan  Kyrgyzstan  Russia Observers:  Cuba  Moldova  Uzbekistan
Leaders
• Chairman of the Supreme Eurasian Economic Council (2024)	Nikol Pashinyan
• Chairman of the Board of the Eurasian Economic Commission	Bakhytjan Sagintayev
Establishment
• Original proposala	1994
• Economic Community	10 October 2000
• Eurasian Customs Union	1 January 2010
• Establishment agreed	18 November 2011
• Eurasian Economic Space	1 January 2012
• EAEU Treaty signed	29 May 2014
• EAEU established	1 January 2015
Area
• Total	20,229,248 km2 (7,810,556 sq mi)
Population
• 2022 estimate	182,131,000
• Density	9.12/km2 (23.6/sq mi)
GDP (PPP)	2022 estimate
• Total	US$5.677 trillion
• Per capita	$31,200
GDP (nominal)	2022 estimate
• Total	US$2.573 trillion
• Per capita	$14,100
Currency	Armenian dram Belarusian ruble Kazakhstani tenge Kyrgyz som Russian ruble
Time zone	UTC+2 to +12
Driving side	right
Calling code	4 codes  +7  +374  +375  +996
Internet TLD	5 TLDs .am .by .kg .kz .ru
By Kazakhstani President Nursultan Nazarbayev.

The Eurasian Economic Union (EAEU or EEU) is a group of five countries in Eurasia that work together on economic matters. Think of it like a team where countries help each other with trade and business. These countries are Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia.

The EAEU has a "single market." This means goods, services, money, and people can move freely between member countries. It's like having no borders for business! As of 2023, about 183 million people live in the EAEU countries. Their total economic output, called gross domestic product (GDP), is over $2.4 trillion.

The idea for the EAEU started in 1994. The main agreement to create the EAEU was signed on May 29, 2014. It officially began on January 1, 2015. Belarus, Kazakhstan, and Russia were the first members. Armenia joined on January 2, 2015, and Kyrgyzstan joined on August 6, 2015.

The EAEU helps countries work together on many things. This includes how they handle money, transport goods, and develop industries. They also work on energy, trade with other countries, and making sure businesses play fair. In the future, they even plan to have a single currency!

The EAEU has different groups that help it run. The most important one is the Supreme Eurasian Economic Council. It's made up of the leaders of each member country. The Eurasian Economic Commission handles the daily work of the EAEU. There's also a special court to solve problems, called the Court of the EAEU.

History of the EAEU

Early Ideas for Cooperation

After the Soviet Union broke up in 1991, many countries faced economic challenges. In 1994, Nursultan Nazarbayev, the first President of Kazakhstan, suggested creating a "Eurasian Union." He wanted a trade group to connect Europe and Asia. The goal was to make it easier to move goods across this large area. This idea was seen as a way to boost trade and investment.

First Steps Towards a Union

During the 1990s, the idea of Eurasian cooperation grew slowly. This was partly because the countries were recovering from economic problems. Also, countries like Russia, Belarus, and Kazakhstan cover a huge area.

In 1995, Belarus, Kazakhstan, and Russia, along with Kyrgyzstan and Tajikistan, signed agreements. These aimed to create a Customs Union. A customs union means countries agree not to charge taxes on goods traded between them. It also meant they would slowly open their borders.

In 1996, more agreements were signed to help countries work together economically. This included creating shared markets for goods, services, and workers.

By 1999, the countries signed a treaty to form the Eurasian Customs Union and a Single Economic Space. This set clear goals for how they would work together.

The Eurasian Economic Community (2000–2014)

To help countries work even closer, the Eurasian Economic Community (EurAsEC) was formed in 2000. Belarus, Kazakhstan, Russia, Kyrgyzstan, and Tajikistan were members. Uzbekistan joined later in 2006. This group aimed to create a common market for its members. It was similar to the early European Economic Community.

In 2007, Belarus, Kazakhstan, and Russia agreed to create a Customs Union just between them.

Building the Customs Union and Single Market

The Customs Union of Belarus, Kazakhstan, and Russia officially started on January 1, 2010. Its main goals were to remove trade taxes between members. It also aimed to set common taxes for goods coming from outside the union. This was a big step towards creating a larger single market. The countries wanted to remove all customs borders between them by July 2011.

On January 1, 2012, these three countries created the Eurasian Economic Space. This made sure that goods, services, money, and workers could move freely. It also helped them set common rules for industries, transport, and energy. They also set up the Eurasian Economic Commission. This group helps manage the Customs Union and the Single Economic Space.

Signing the EAEU Treaty

In 2011, Vladimir Putin, who was Prime Minister of Russia then, supported the idea of a Eurasian Economic Union. On November 18, 2011, the presidents of Belarus, Kazakhstan, and Russia signed an agreement. They aimed to create the EAEU by 2015.

On May 29, 2014, the leaders of Kazakhstan, Belarus, and Russia signed the main treaty for the EAEU. It officially began on January 1, 2015. The presidents of Armenia and Kyrgyzstan were also there. Vladimir Putin said they had created a "powerful, attractive centre of economic development." He noted it was a big market with over 170 million people.

Kazakhstani leaders stressed that the EAEU was only about economics, not politics. They said it was a practical way to gain benefits. Armenia signed a treaty to join on October 9, 2014. Kyrgyzstan signed on December 23, 2014, and became a member on August 6, 2015.

Recent Events (2022)

In 2022, after Russia's actions in Ukraine, the US and EU placed economic restrictions on Russia and Belarus. Kazakhstan, a member of the EAEU, stated it would follow these restrictions. They did not want to face similar restrictions themselves.

In December 2023, the EAEU signed a free trade agreement with Iran. This agreement will remove customs taxes on almost 90% of goods traded between them.

Who are the Members?

The EAEU started with three countries: Belarus, Kazakhstan, and Russia. Later, Armenia and Kyrgyzstan joined.

Country	Joined EAEU	Treaty Signed
Armenia	January 2, 2015	October 10, 2014
Belarus	January 1, 2015	May 29, 2014
Kazakhstan	January 1, 2015	May 29, 2014
Kyrgyzstan	August 12, 2015	December 23, 2014
Russia	January 1, 2015	May 29, 2014

For Kyrgyzstan, joining the EAEU helped make it easier for its citizens to work in Russia. Armenia joined after talks with Russia in 2013. Armenia is unique because it does not share a border with any other EAEU member. Georgia has promised to provide a free path for Armenia's goods to reach the EAEU.

Some countries are "observers," meaning they watch how the EAEU works. Moldova became an observer in 2017. Uzbekistan and Cuba also became observer members in 2020. Uzbekistan is expected to become a full member soon.

Yearly Leadership

Each year, one member country leads the EAEU. The leadership rotates in alphabetical order based on the Russian language. Armenia is currently leading the EAEU in 2024.

Year	#	Country	Leader
2015	1st	Belarus	Alexander Lukashenko
2016	2nd	Kazakhstan	Nursultan Nazarbayev
2017	3rd	Kyrgyzstan	Almazbek Atambayev (until Dec 1)
			Sooronbay Jeenbekov (from Dec 1)
2018	4th	Russia	Vladimir Putin
2019	5th	Armenia	Nikol Pashinyan
2020	6th	Belarus	Alexander Lukashenko
2021	7th	Kazakhstan	Kassym-Jomart Tokayev
2022	8th	Kyrgyzstan	Sadyr Japarov
2023	9th	Russia	Vladimir Putin
2024	10th	Armenia	Nikol Pashinyan
2025	11th	Belarus	Alexander Lukashenko

More Countries Joining?

Russian President Vladimir Putin has said he wants the EAEU to grow. He hopes it will include all countries that were once part of the Soviet Union, except for the three Baltic states. The goal is for the EAEU to become a "powerful union" like the European Union. It would connect economies, laws, and customs services.

Tajikistan has been invited to join and is interested. Uzbekistan has been careful about joining. However, it became an observer state in 2020. Some experts think Uzbekistan might join fully in the next few years.

Other countries like Moldova, Ukraine, and Georgia have been offered to join both the EAEU and the European Union. Moldova became an EAEU observer in 2017. Ukraine had considered joining the EAEU but later chose to work with the EU.

How the EAEU is Governed

The EAEU's system is based on the European Union's model. All its groups follow the EAEU Treaty and other international agreements.

Supreme Eurasian Economic Council

This is the top decision-making body. It includes the leaders of each member country. They approve the budget and decide on the EAEU's main goals. They also make important decisions for the union's future.

Eurasian Economic Commission

The Eurasian Commission is the main working body of the EAEU. It started on January 1, 2012, and is based in Moscow. It's like the European Commission in the EU. This commission makes decisions on trade, economy, and energy. It also works to prevent unfair business practices.

The Commission has two main parts: the Council and the Board.

Council

The Council is made up of high-ranking officials from each country. They oversee the EAEU's integration and manage the Commission. They meet every three months. They discuss trade, cooperation, and the EAEU's overall progress.

Board

The Board has ten commissioners, two from each member country. One of them is the chairman. These commissioners are chosen by the Supreme Eurasian Council. They manage the daily work of the EAEU. They meet every week. They make sure treaties are followed and suggest new ideas. They also help solve problems between member states.

Court of the Eurasian Economic Union

This court helps solve disagreements and explains the EAEU's laws. It is located in Minsk. Each member country provides two judges. They serve for nine years.

EAEU Budget

The EAEU's budget comes from money contributed by its member countries. In 2015, the budget was over 6.6 billion Russian roubles. Most of this money goes to the Eurasian Economic Commission. Some also goes to the EAEU's information system and the Court. Russia also helps pay for extra costs like buildings for the Commission.

Working Language

The official working language for all EAEU groups is Russian.

Economy of the EAEU

The EAEU's economy is quite large. It is the tenth-largest in the world by total economic output (nominal GDP). It is the fifth-largest when comparing what money can buy (purchasing power parity).

Since 2000, EAEU countries have seen good economic growth. Trade between member countries has also increased a lot since 2010. The EAEU aims to lower prices, increase jobs, and boost production. It also wants to make trade easier and fairer.

The EAEU is important in the world for energy, raw materials, and farming. Russia, for example, is a major producer of oil and natural gas.

• 

  Saint Petersburg, a major city in Russia

• 

  Yerevan, the capital of Armenia

• 

  Business center in Astana, Kazakhstan

• 

  Almaty, a big city in Kazakhstan

• 

  Bishkek, the capital of Kyrgyzstan

• 

  Minsk, the capital of Belarus

Customs Union and Four Freedoms

A main goal of the EAEU is to have a "single market." This means four key freedoms:

• Free movement of goods
• Free movement of money (capital)
• Free movement of services
• Free movement of people

These freedoms officially started on January 1, 2015. Free movement of people means citizens can easily move between member countries to live, work, or study. They can often travel using just an internal passport.

The EAEU also has a common external tariff. This means all member countries charge the same taxes on goods coming from outside the union.

Common Policies

Besides the four freedoms, the EAEU also works on common policies. These include energy, industry, farming, and transport. For example, Belarus gets cheaper gas prices from Russia. This helps its economy.

Fair Competition

The Eurasian Economic Commission works to ensure fair competition. It makes sure that businesses in all member countries play by the same rules. It also tries to prevent monopolies.

Future Common Currency

Some leaders have suggested creating a common currency for the EAEU. This new currency might be called the "altyn." The idea is to help protect the countries from global economic problems. While not yet decided, discussions about a common currency are ongoing. It could be introduced by 2025.

Energy Powerhouse

The EAEU is a major player in the world's energy market. It produces a lot of natural gas and oil. This is mainly due to Russia's large reserves. Kazakhstan also has significant oil and gas. By 2025, EAEU members plan to create a common market for electricity and oil/gas.

Infrastructure and Transport

Connecting the large distances between EAEU cities like Moscow, Minsk, and Astana is a challenge. Major projects have started to improve roads and railways. This helps trade and integration.

Railways are very important for transport in the EAEU. The union has the second-longest railway network in the world. The famous Trans-Siberian Railway connects the Russian Far East to Moscow. It also links to Kazakhstan.

The EAEU is also working on a "Single Eurasian Sky" program. This aims to create a single market for air travel. It would make it easier for airlines to fly through the region. This could turn the EAEU's airspace into a busy travel hub between Europe and Southeast Asia.

Agriculture

The EAEU is a top producer of sugar beet and sunflowers. It also produces a lot of rye, barley, and oats. The Eurasian Economic Commission helps coordinate farming policies. It also works to ensure food security for all members.

Expected Economic Benefits

Experts believe the EAEU has great potential. They predict a 25% growth in the member countries' economies by 2030. This would be over $600 billion. The union will give citizens access to jobs and education across the region. It will also lead to shared policies in many areas, like energy and transport.

Some people, especially in the West, are critical of the EAEU. They say it needs more economic reforms to be truly successful. They also point out that without Ukraine, a key country, the union might not be as strong.

Focus on Asia

The EAEU is actively looking to increase trade with countries in East Asia. They are talking about trade cooperation with groups like ASEAN. South Korea has also proposed a "Eurasian Initiative." This plan aims to connect transport, electricity, and gas links from Europe to East Asia. This is similar to China's "New Silk Road" project.

Russia's Role

The EAEU is important for Russia's economic and strategic goals. Russia wants to develop its eastern regions, like Siberia and the Russian Far East. This would help it trade more with Asian markets. Russia has signed big energy deals with China. It is also working to improve railways in Siberia.

Kazakhstan's Role

Kazakhstan also wants to increase its trade with East Asian markets. It has signed deals with China to connect its railways to the Pacific Ocean. China has also invested in Kazakhstan's energy sector.

Trade with Other Countries

The EAEU must negotiate as a whole to sign free trade agreements with other countries. This means individual member countries cannot sign these agreements on their own.

The EAEU has signed free trade agreements with:

• Vietnam (started October 2016)
• Iran (a temporary agreement started in 2019, a full agreement signed in 2023)
• Serbia (started July 2021)
• Singapore (signed in 2019)

The EAEU is also discussing free trade agreements with over 30 other countries. These include India, Indonesia, Israel, and the United Arab Emirates.

Older Trade Agreements

Even though the EAEU now handles new trade agreements, older agreements made by individual member countries are still valid. For example, all EAEU members are part of the Commonwealth of Independent States Free Trade Area. This means they have free trade with other countries in that group, like Uzbekistan and Moldova.

Cooperation and Investment

EAEU members can still make agreements on investments and trade in services on their own. They just need to offer the same benefits to other EAEU members.

The EAEU also offers special lower tariffs (taxes) for goods from 29 developing countries and 48 least-developed countries. This helps these countries grow their economies.

Working with the World

The EAEU works with many other countries and international groups. They sign agreements and hold meetings to discuss cooperation. They have signed agreements with countries like Bangladesh, Jordan, and Cuba. They also work with groups like ASEAN and the African Union.

Some countries, like Moldova, Cuba, and Uzbekistan, have "observer status" in the EAEU. This means they can attend meetings and see how the union works.

Foreign Relations

The EAEU uses its strengths, like its energy resources and railways, to trade with other countries. Even though Russia faces sanctions, other EAEU members have spoken out against trade wars.

The EAEU wants to increase trade with partners in the Middle East and East Asia. This is to benefit from the growing trade between Europe and Asia.

China is very interested in the EAEU. Both China and the EAEU believe they can benefit from new trade routes. These routes are similar to the historic Silk Road. Railways now transport goods from China to Europe through Kazakhstan and Russia.

Iran also sees the EAEU and China as important partners. Russia and Iran have increased their trade. Turkey is also looking to strengthen its economic ties with the EAEU.

Armenia and Nagorno-Karabakh

When Armenia joined the EAEU, it gained economic benefits. For example, it gets about $250 million a year in customs revenue. It also has special privileges for many products.

The region of Nagorno-Karabakh is a disputed area between Armenia and Azerbaijan. When Armenia joined the EAEU, the Nagorno-Karabakh region was not included in the union. Armenian officials have stated they will not build customs borders with Nagorno-Karabakh.

Geography of the EAEU

The EAEU covers a huge area in northern Eurasia. It stretches across much of Europe and Asia. Its member countries cover over 20 million square kilometers. This is about 15% of all the land on Earth!

The land varies greatly. Belarus and much of European Russia are flat plains. Northern Russia has cold tundra regions. Siberia has vast forests called taiga. Kazakhstan has large steppe grasslands. Armenia is mostly mountainous.

The EAEU has many lakes and rivers. Lake Baikal in Russia is the world's deepest and oldest freshwater lake. Major rivers include the Volga in Europe and the Ob, Yenisey, and Lena in Siberia.

The highest point in the EAEU is Khan Tengri mountain in Kazakhstan. It is 7,010 meters tall. The lowest point is the Karagiye Depression in Kazakhstan. Russia has huge amounts of oil and natural gas.

Most people in the EAEU live in cities. Russia and Belarus have over 70% of their people in urban areas. Armenia has over 64% in cities. Kazakhstan has about 54% of its people in cities.

• 

  Mount Elbrus – Russia

• 

  Mountain range – Armenia

• 

  Lama River – in Russia

• 

  Sharyn Canyon – Kazakhstan

• 

  On the southern shore of Issyk-Kul lake, Kyrgyzstan

• 

  Winter – Belarus

• 

  A view of Mount Aragats – Armenia

• 

  A view of Mount Mönkh Saridag – Russia

• 

  Lake Ayger – Armenia

• 

  Lake Servech – Belarus

• 

  Winter in Russia

• 

  Tian Shan mountain range – Kyrgyzstan

People of the EAEU

The total population of all EAEU member countries was about 183 million people in 2015.

Largest cities or towns in Eurasian Union Russia (2021 Census) , Kazakhstan (2022, stat.gov.kz) , Belarus (2021, belstat.gov.by)
Rank		Pop.
1	Moscow	13,010,112
2	Saint Petersburg	5,601,911
3	Almaty	2,156,749
4	Minsk	1,995,471
5	Novosibirsk	1,633,595
6	Yekaterinburg	1,544,376
7	Astana	1,350,228
8	Kazan	1,308,660
9	Nizhny Novgorod	1,228,199
10	Shymkent	1,189,209

The EAEU has 17 cities with more than 1 million people. The largest city is Moscow. Most people live in the capital cities and in European Russia. Siberia has the fewest people. Russia is home to about 160 different ethnic groups. Kazakhstan and Belarus also have many people of Russian descent.

Even though the EAEU has a large population, its overall population density is low. This is because Russia and Kazakhstan are so huge. The birth rate in the EAEU is higher than in the European Union.

See also

In Spanish: Unión Económica Euroasiática para niños