{"id":23499,"date":"2025-06-06T14:15:42","date_gmt":"2025-06-06T08:45:42","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=23499"},"modified":"2025-06-06T15:24:46","modified_gmt":"2025-06-06T09:54:46","slug":"what-is-the-eurasian-economic-union","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/what-is-the-eurasian-economic-union\/","title":{"rendered":"Eurasian Economic Union (EAEU)"},"content":{"rendered":"<h2>Eurasian Economic Union (EAEU) Latest News<\/h2>\n<p>Discussions on a free trade agreement between India and the Eurasian Economic Union countries are expected to start this year, Russian Trade Commissioner in India, Andrey Sobolev, said recently.<\/p>\n<h2>About Eurasian Economic Union\u00a0<\/h2>\n<ul>\n<li>The Eurasian Economic Union, abbreviated by EAEU or EEU, is an\u00a0<strong>international economic union of countries<\/strong>\u00a0located\u00a0<strong>in northern Eurasia.<\/strong><\/li>\n<li>The EAEU\u00a0<strong>provides for the free movement of goods, services, capital, and labor<\/strong>; and\u00a0<strong>pursues coordinated,\u00a0<\/strong>harmonized, and single\u00a0<strong>policy in the specified sectors of the economy.<\/strong><\/li>\n<li>It is the successor to the Eurasian Economic Community (EvrAsEs) and was\u00a0<strong>established by<\/strong>\u00a0the signing of the\u00a0<strong>Treaty on the Eurasian Economic Union<\/strong>\u00a0on 29 May\u00a0<strong>2014.\u00a0<\/strong><\/li>\n<li>It consists of\u00a0<strong>five member states: Russia, Belarus, Kazakhstan, Kyrgyzstan, and Armenia.<\/strong><\/li>\n<li>The main\u00a0<strong>objectives\u00a0<\/strong>of the EAEU are to<strong>\u00a0upgrade the competitiveness<\/strong>\u00a0of the member states economies,\u00a0<strong>increase cooperation<\/strong>\u00a0among member states, and promote stable development to\u00a0<strong>raise the standard of living<\/strong>\u00a0in all member states.<\/li>\n<li><strong>Governance<\/strong>:\n<ul>\n<li><strong>Supreme Eurasian Economic Council:\u00a0<\/strong>It is the Union\u2019s\u00a0<strong>supreme authority,<\/strong>\u00a0which is formed from the\u00a0<strong>heads of the Member-States.<\/strong><\/li>\n<li><strong>Eurasian Economic Commission (EEC):<\/strong><\/li>\n<li>It is the\u00a0<strong>permanent supranational regulatory body<\/strong>\u00a0of the union based in\u00a0<strong>Moscow<\/strong>.\u00a0<\/li>\n<li>The main purpose of the Commission is to ensure the functioning and development of the EAEU and develop proposals for the further development of integration.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Court of the EAEU:<\/strong>\n<ul>\n<li>It is a\u00a0<strong>court of justice<\/strong>\u00a0of the EAEU, which ensures the uniform application of the EAEU Treaty and other Union treaties by the Union Member States and bodies.\u00a0<\/li>\n<li>It is based in\u00a0<strong>Minsk, Belarus.<\/strong><\/li>\n<\/ul>\n<\/li>\n<li><strong>Unlike the European Commission<\/strong>\u00a0(primary executive arm of the European Union), the\u00a0<strong>Eurasian Economic Commission\u2019s power is limited.<\/strong>\n<ul>\n<li>Member\u00a0<strong>states disagreeing with its judgements can appeal to other bodies<\/strong>.\u00a0<\/li>\n<li>The Commission has<strong>\u00a0no power to bring a member state<\/strong>\u00a0before the Court\u00a0<strong>in a case of non-compliance.<\/strong><\/li>\n<li><strong>Disputes are often resolved bilaterally<\/strong>\u00a0rather than via EEU institutions.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Unlike the European Union<\/strong>\u00a0(EU), the\u00a0<strong>EAEU does not share a common currency.<\/strong><\/li>\n<\/ul>\n<h2>Eurasian Economic Union (EAEU) FAQs<\/h2>\n<p><strong>Q1<\/strong>. What is the primary purpose of the Eurasian Economic Union?<\/p>\n<p><strong>Ans<\/strong>. Economic integration and free movement of goods, services, capital, and labor.<\/p>\n<p><strong>Q2<\/strong>. What countries are in the Eurasian Economic Union?<\/p>\n<p><strong>Ans<\/strong>. Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia.<\/p>\n<p><strong>Q3<\/strong>. Where is the headquarters of the Eurasian Economic Commission located?<\/p>\n<p><strong>Ans<\/strong>. Moscow<\/p>\n<p><strong>Source<\/strong>:\u00a0<a href=\"https:\/\/www.reuters.com\/world\/india\/free-trade-talks-between-india-eurasian-countries-start-this-year-russian-2025-06-02\/\" target=\"_blank\" rel=\"nofollow noopener\">REUTERS<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Eurasian Economic Union is an international economic union and free trade zone comprising countries located in central and northern Asia and Eastern Europe.<\/p>\n","protected":false},"author":5,"featured_media":49426,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[718,21,22,23],"class_list":{"0":"post-23499","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-prelims-current-affairs","8":"tag-eurasian-economic-union","9":"tag-prelims-pointers","10":"tag-upsc-current-affairs","11":"tag-upsc-prelims-current-affairs","12":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/23499","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=23499"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/23499\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/49426"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=23499"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=23499"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=23499"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}