The presidents of Russia, Belarus and Kazakhstan signed the Treaty on the Eurasian Economic Union in the city of Astana (now Nur-Sultan) on May 29, 2014. In 2015, Armenia and Kyrgyzstan joined the Union.

Nowadays the EAEU has five full members.

Within the Union “four freedoms” have been achieved, namely the free circulation of:
- Goods;
- Services;
- Capital;
- Labor force.

EAEU’s member states also coordinate their policies in the key sectors of their economies.

The main objectives of Eurasian Economic Union are:
- the creation of an appropriate environment for the stable development of the members states’ economies in order to increase the welfare of their populations;
- the creation of a common market of goods, services, capital and labor resources;
- comprehensive modernization and improving the competitiveness of our national economies at a worldwide level.

📷: Yandex

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What is the Eurasian Economic Commission?

The EEC is the permanent regulatory body of the Eurasian Economic Union. Having started its work in February 2012, this year it has turned 10 years old.

The main purpose of the EEC is to ensure the functioning and the development of the EAEU. All decisions of the EEC are held on a collegial basis.

The EEC consists of the Council of the Commission and the Board of the Commission.

The Council of the Eurasian Economic Commission is formed by 5 members who serve as vice prime ministers in their respective countries.

The Board of the Eurasian Economic Commission consists of 20 members, including its Chairman (currently Mr Mikhail Myasnikovich) who are appointed for 4 years by the Supreme Eurasian Economic Council (at the level of the Heads of State).

📷: Google

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