East African Community Customs Union
... GDP of $31.344bn and a population of 79 million people. Vietnam would have been more attractive to investors since it is one customs territory. By moving towards the creation of one economic region through the Customs Union, EAC will create a single market of over 90 million people (2002) and a comb ...
... GDP of $31.344bn and a population of 79 million people. Vietnam would have been more attractive to investors since it is one customs territory. By moving towards the creation of one economic region through the Customs Union, EAC will create a single market of over 90 million people (2002) and a comb ...
Legal order of the Union
... 1991 – establishment of Commonwealth of independent states but uses by the member states ss a tool for peaceful dismantling of the USSR 1993 Russian suggested to create an Economic Union resembling the EU and in 1994 an agreement was signed to establish a free trade area 1995 Russia, Belarus and Kaz ...
... 1991 – establishment of Commonwealth of independent states but uses by the member states ss a tool for peaceful dismantling of the USSR 1993 Russian suggested to create an Economic Union resembling the EU and in 1994 an agreement was signed to establish a free trade area 1995 Russia, Belarus and Kaz ...
Eurasian Economic Union
The Eurasian Economic Union (EAEU or EEU) is an economic union of states located primarily in northern Eurasia. A treaty aiming for the establishment of the EEU was signed on 29 May 2014 by the leaders of Belarus, Kazakhstan and Russia, and came into force on 1 January 2015. Treaties aiming for Armenia's and Kyrgyzstan's accession to the Eurasian Economic Union were signed on 9 October 2014 and 23 December, respectively. Armenia's accession treaty came into force on 2 January 2015. Kyrgyzstan's accession treaty came into effect on 6 August 2015. It participated in the EEU from the day of its establishment as an acceding state.In 1994, the President of Kazakhstan, Nursultan Nazarbayev, first suggested the idea of creating a regional trading bloc during a speech at Moscow State University. Numerous treaties were subsequently signed to establish the trading bloc gradually. Many politicians, philosophers and political scientists have since called for further integration towards a political, military and cultural union. However modern-day Kazakhstan has insisted the union stay purely economic as it seeks to keep its independence and sovereignty intact. In spite of that, two EAEU member states—Belarus and Russia—form a political union: the Union State; and all EAEU member states participate in the Collective Security Treaty Organization, an intergovernmental mutual defense alliance.The Eurasian Economic Union has an integrated single market of 183 million people and a gross domestic product of over 4 trillion U.S. dollars (PPP). The EEU introduces the free movement of goods, capital, services and people and provides for common transport, agriculture and energy policies, with provisions for a single currency and greater integration in the future. The union operates through supranational and intergovernmental institutions. The supranational institutions are the Eurasian Commission (the executive body), the Court of the EEU (the judicial body) and the Eurasian Development Bank. National governments are usually represented by the Eurasian Commission's Council.