Eurasian Economic Community

Wednesday, 12 November 2014 - 01:00 pm (CET/MEZ) Berlin | Author/Destination:
Category/Kategorie: General
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Participants of the meeting of the EurAsEC Interstate Council © www.kremlin.ru

Participants of the meeting of the EurAsEC Interstate Council © www.kremlin.ru

The Eurasian Economic Community (EAEC or EurAsEC) originated from the Commonwealth of Independent States (CIS) and the Customs Union of Belarus, Kazakhstan and Russia on 29 March 1996. The Treaty on the establishment of the Eurasian Economic Community was signed on 10 October 2000. On 7 October 2005 it was decided between the member states that Uzbekistan would join. Freedom of movement without visa requirements has been implemented among the members. A Common Economic Space for the community was launched on 1 January 2010.

The Eurasian Economic Commission is the regulatory agency for the Eurasian Economic Community Common Economic Space and the Customs Union of Belarus, Kazakhstan and Russia.

World GDP © Petriot333 Participants of the meeting of the EurAsEC Interstate Council © www.kremlin.ru © evrazes.com
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Participants of the meeting of the EurAsEC Interstate Council © www.kremlin.ru
The EurAsEC Customs Union became a top priority since Spring 2008, when the European Union announced its Eastern Partnership. Since that time, there has been discord between the EU and Russia with both sides accusing the other of attempting to carve out spheres of influence over the countries at issue (Belarus, Armenia, Azerbaijan, Georgia, Moldova and Ukraine). A supranational body of the customs union—the EurAsEC Customs Union Commission—was established on December 12, 2008. Boiled down to its essence, Russia has offered EurAsEC members access to its markets (i.e., for Kazakhstan) and lower energy prices (i.e., Belarus, Ukraine). The EU’s offer to membership countries amounts to promises of de facto EU integration, such as relaxed visa entry requirements.

The follow-up organization of the Eurasian Economic Community shall be the Eurasian Union, which will go into effect on January 1, 2015. The United States has expressed its opposition to the Eurasian Union, claiming it is “an attempt” to re-establish a Russian-dominated USSR-type union amongst the former Soviet republics. From the economic standpoint, the Eurasian Union (2.084 billion USD) will reach 60% of the GDP of Germany (3.577 billion USD).

Read more on Eurasian Economic Community, Wikipedia Eurasian Union and Wikipedia Eurasian Economic Community (Smart Traveler App by U.S. Department of State - Weather report by weather.com - Global Passport Power Rank - Travel Risk Map - Democracy Index - GDP according to IMF, UN, and World Bank - Global Competitiveness Report - Corruption Perceptions Index - Press Freedom Index - World Justice Project - Rule of Law Index - UN Human Development Index - Global Peace Index - Travel & Tourism Competitiveness Index). Photos by Wikimedia Commons. If you have a suggestion, critique, review or comment to this blog entry, we are looking forward to receive your e-mail at comment@wingsch.net. Please name the headline of the blog post to which your e-mail refers to in the subject line.




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