Countries in close geography or close to each other form some economic and political unions by coming together in order to act together economically and politically, to establish solidarity and to gather strength financially. Being in a global economic union supports financial growth, as well as strengthens countries. One of these economic formations is the Eurasian Economic Union. Eurasian Economic Union 2021! What are its member states? When was EAEU established? answers to questions such as etc. are in the rest of the article.
Eurasian Economic Union 2021 EAEU Member States
EAEU is a new entity with five member states. The Eurasian Economic Union, an economic and political union, has been operating since 2015. Armenia, Kazakhstan, Belarus, Russia and Kyrgyzstan are members of the Eurasian Economic Union. You can browse here for G7 Countries 2021 What is the G7′ Purpose?
When was the Eurasian Economic Union Established?
Essentially, the process leading to the establishment of EAEU started in 1995. The Customs Union Agreement signed between Russia and Belarus paved the way for the establishment of the EAEU. Following this Customs Union Agreement, Belarus, Russia, Tajikistan, Kazakhstan and Kyrgyzstan established the Eurasian Economic Community in 2000. After 10 years, a Customs Union was established between Russia, Belarus and Kazakhstan in 2010 and these countries concentrated on economic integration. Ultimately, these three countries signed the EAEU agreement in May 2014. In October 2014, signatures were signed for Armenia to become a member of the union. The agreement for the establishment of EAEU entered into force on 1 January 2015. This economic cooperation is expected to grow to cover many countries in Eurasia in the following years and to be a community similar to the European Union.
The Eurasian Economic Union has five member countries today. These countries; Belarus, Armenia, Kazakhstan, Kyrgyzstan and Russia. Possible members who may become a member of EAEU in the near future; Iran, China; India, Turkey, Zimbabwe, Tunisia, can be listed as.