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The Eurasian Economic Community (EAEC or EurAsEC) originated from the Commonwealth of Independent States customs union between Belarusmarker, Russiamarker and Kazakhstanmarker on 29 March 1996. The Treaty on the establishment of the Eurasian Economic Community was signed on 10 October 2000, in Kazakhstan's capital Astana by Presidents Alexander Lukashenko of Belarus, Nursultan Nazarbayev of Kazakhstan, Askar Akayev of Kyrgyzstanmarker, Vladimir Putin of Russia, and Emomali Rakhmonov of Tajikistanmarker. On 7 October 2005 it was decided between the member states that Uzbekistanmarker would join. Freedom of movement is implemented among the members (no visa requirements). Common Economic Space may be launched on 1 January 2010.


Organization of Central Asian Cooperation

The Organization of Central Asian Cooperation (OCAC) (Central Asian Cooperation Organization, CACO, ) was an international organization, composed of Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan and Russia. Georgiamarker, Turkeymarker and Ukraine had observer status. Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistanmarker and Uzbekistan formed the OCAC in 1991 as Central Asian Commonwealth (CAC). The organization continued in 1994 as Central Asian Economic Union (CAEU), in which Tajikistan and Turkmenistan did not participate. In 1998 it became Central Asian Economic Cooperation (CAEC), which marked the return of Tajikistan.

On 28 February 2002 it was renamed to its current name. Russia joined on 28 May 2004. In October, 2005 Uzbekistan applied for membership in EAEC. OCAC has de facto dissolved on 25 January 2006, when Uzbekistan joined EAEC. But later in 2008 Uzbekistan has decided to temporarily suspend its membership.


EAEC was established for effective promotion of the creation by the Customs Union member states of a Single Economic Space and for coordinating their approaches while integrating into the world economy and the international trade system. One of the Organization's chief activity vectors is ensuring the dynamic evolution of the Community states through coordinating their economic and social reforms while effectively using their economic potentials to improve the living standards of their peoples.Among the principal tasks of the Community are:

Institutional framework

  • Interstate Council
  • Integration Committee
    • Energy Policy Council
    • Transport Policy Council
    • Council on Border Issues
    • Council of Heads of Customs Services
    • Council of Heads of Tax Services
    • Council of Ministers of Justice
  • Secretariat
  • Commission of Permanent Representatives
  • Interparliamentary Assembly
  • Community's Court of Justice

Economic data

Country Population GDP 2006 GDP 2007 growth per capita
Belarus 9,688,796 36,961,815,474 44,773,406,221 21.13% 4,621
Russia 142,498,534 984,926,789,696 1,289,582,151,445 30.93% 9,050
Kazakhstan 15,421,864 81,003,864,916 104,143,432,632 28.57% 6,753
Kyrgyzstan 5,316,544 2,834,168,893 3,745,000,489 32.14% 704
Uzbekistan 27,372,256 17,077,480,575 19,274,619,012 12.87% 704
Tajikistan 6,735,996 2,830,213,563 3,737,572,699 32.06% 555
EAEC total 207,033,990 1,125,634,333,117 1,465,256,182,498 30.17% 7,077

Common Economic Space

After discussion about the creation of a common economic space between the CIS countries of Russia, Ukraine, Belarus, and Kazakhstan, agreement in principle about the creation of this space was announced after a meeting in the Moscow suburb of Novo-Ogarevomarker on 23 February 2003. The Common Economic Space would involve a supranational commission on trade and tariffs that would be based in Kievmarker, would initially be headed by a representative of Kazakhstanmarker, and would not be subordinate to the governments of the four nations. The ultimate goal would be a regional organisation that would be open for other countries to join as well, and could eventually lead even to a single currency. On 22 May 2003 The Verkhovna Radamarker (the Ukrainian Parliament) voted 266 votes in favour and 51 against the joint economic space. However, most believe that Viktor Yushchenko's victory in the Ukrainian presidential election of 2004 was a significant blow against the project: Yushchenko has shown renewed interest in Ukrainian membership in the European Union, and such membership would be incompatible with the envisioned common economic space.

According to Russian President Dmitry Medvedev the creation of a common economic space for Russia, Kazakhstan, and Belarus may be launched on 1 January 2010. Russian Foreign Minister Sergei Lavrov said on 10 December 2008 that Moscow is ready to build a common economic space with both Europe and the United Statesmarker if every party is treated equally.

Kazakh President Nursultan Nazarbayev has proposed the creation of a common noncash currency called yevraz for the community. This would help insulate the countries from the global economic crisis.

See also


  1. WTO WT/REG71/1
  2. Foundation Agreement of EAEC
  3. Могут ли граждане стран, входящих в ЕврАзЭс, свободно перемещаться по территории Сообщества?
  4. Russia, Kazakhstan, Belarus plan on common economic space
  5. Collective Security: A Timeline
  6. Central Asian Cooperation Organization
  7. Working group discusses Uzbekistan's accession to EAEC
  8. Uzbekistan becomes official member of Eurasian Economic Community
  10. Lavrov wants [European Union–Russia Common Spaces common economic space with Europe, US
  11. Moscow times: Kazakhstan Suggests a New Currency

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