The Eurasian Economic Union is an economic union of five post-Soviet states located in Eurasia. The EAEU has an integrated single market. As of 2023, it consists of 183 million people and a gross domestic product of over $2.4 trillion.
Some of the key events about Eurasian Economic Union
2010
The Customs Union between Russia, Belarus, and Kazakhstan was established, eliminating customs duties in mutual trade
2012
The Single Economic Space was launched, deepening economic integration among member states
2014
Economic sanctions against Russia by Western countries negatively impacted the newly formed Eurasian Economic Union
2015
The Eurasian Economic Union (EAEU) officially came into existence, creating a single market for goods, services, capital, and labor
2015
Armenia joined the EAEU, expanding the organization's membership
2015
Kyrgyzstan acceded to the EAEU, further enlarging the union
2015
The Russian ruble crisis led to economic instability within the Eurasian Economic Union
2016
The EAEU signed its first free trade agreement with Vietnam, expanding its international economic relations
2016
Armenia-Azerbaijan conflict strained relations within the Eurasian Economic Union
2017
Trade disputes arose between Belarus and Russia, threatening unity within the organization
2018
A temporary agreement leading to the formation of a free trade zone between the EAEU and Iran was signed
2018
U.S. sanctions on Russia created economic challenges for Eurasian Economic Union members
2019
The EAEU signed a free trade agreement with Singapore, strengthening its presence in Southeast Asia
2019
An agreement on trade and economic cooperation between the EAEU and China came into force
2019
Kyrgyzstan accused Kazakhstan of imposing trade barriers, violating Eurasian Economic Union principles
2020
COVID-19 pandemic severely disrupted trade and economic cooperation within the Eurasian Economic Union
2020
Border closures between member states during the pandemic hindered free movement within the union
2021
The EAEU approved a strategic plan for Eurasian economic integration until 2025, outlining future development goals
2021
Political unrest in Belarus strained its relations with other Eurasian Economic Union members
2022
Russia's actions in Ukraine led to increased international isolation for the Eurasian Economic Union
Disclaimer: This material is written based on information taken from open sources, including Wikipedia, news media, podcasts, and other public sources.