“The Eurasian Economic Union (EaEU) is a promising project. The Soviet Union and the EaEU are two different things; they have different foundations and memberships. A good core has already been formed, comprising Russia, Kazakhstan and Belarus. We have to address economic and defence issues first and then start dealing with political matters. We need institutions to govern this union,” he said.

 

Today the presidents of Russia, Kazakhstan and Belarus signed a treaty in Astana, Kazakhstan, to establish the Eurasian Economic Union (EaEU), which will come into effect on January 1, 2015, marking the next milestone in the integration of the three countries comprising much of the territory of the former USSR. The Customs Union and the Eurasian Economic Community (EAEC or EurAsEC) launched in 2000 were the previous milestones. Free movement of goods, capital, labor, and services, as well as equal access to transportation and energy infrastructure, and common customs and tariff regulations will be phased in the EaEU territory. Armenia and Kyrgyzstan are expected to join the EaEU by the end of 2014.