Friday, May 27, 2016

Eurasian Economic Union

The Eurasian Economic Union is an international organization for regional economic integration. 
  • It has international legal personality and is established by the Treaty on the Eurasian Economic Union.

Member Countries:- 
  • The Member-States of the Eurasian Economic Union are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic and the Russian Federation, total Five (5) countries.

The EAEU provides for free movement of goods, services, capital and labor, pursues coordinated, harmonized and single policy in the sectors determined by the Treaty and international agreements within the Union.
  • The Union is being created to comprehensively upgrade, raise the competitiveness of and cooperation between the national economies, and 
  • to promote stable development in order to raise the living standards of the nations of the Member-States.
The Supreme Eurasian Economic Council is the "Supreme Body" of the Union, consisting of the Heads of the Member States
The other supranational institutions are the Eurasian Commission (the executive body), the Eurasian Intergovernmental Council (consisting of the Prime Ministers of member states) and the Court of the EEU (the judicial body).

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