Eurasian Economic Community

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Евразийское экономическое сообщество Eurasian Economic Community
Full members     Suspended member     Observers     Other CIS members
Headquarters		Almaty, Minsk, Moscow, Saint Petersburg
Membership		6 states
Leaders
-	Secretary General	Tair Mansurov
Establishment
-	Customs union	29 March 1996
-	OCAC merger	25 January 2006
Website evrazes.com

The Eurasian Economic Community (EAEC or EurAsEC) originated from the Commonwealth of Independent States customs union between Belarus, Russia and Kazakhstan on 29 March 1996.^[1] The Treaty on the establishment of the Eurasian Economic Community was signed on 10 October 2000,^[2] in Kazakhstan's capital Astana by Presidents Alexander Lukashenko of Belarus, Nursultan Nazarbayev of Kazakhstan, Askar Akayev of Kyrgyzstan, Vladimir Putin of Russia, and Emomali Rakhmonov of Tajikistan. On 7 October 2005 it was decided between the member states that Uzbekistan would join. Freedom of movement is implemented among the members (no visa requirements).^[3] Common Economic Space may be launched on 1 January 2010.^[4]

Membership

Organization of Central Asian Cooperation

The Organization of Central Asian Cooperation (OCAC) (Central Asian Cooperation Organization, CACO, Russian: Центрально-Азиатское сотрудничество, ЦАС) was an international organization, composed of Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan and Russia. Georgia, Turkey and Ukraine had observer status. Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan 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.^[6]

On 28 February 2002 it was renamed to its current name. Russia joined on 28 May 2004.^[7] In October, 2005 Uzbekistan applied for membership in EAEC.^[8] OCAC has de facto dissolved on 25 January 2006, when Uzbekistan joined EAEC.^[9] But later in 2008 Uzbekistan has decided to temporarily suspend its membership.^[5]

Aims

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:

• completing the formalization of a free trade regime in all respects, creating a unified customs tariff and a unified system of nontariff regulation measures;
• laying down the common rules for trade in goods and services and their access to internal markets;
• introducing a unified procedure for foreign exchange controls;
• creating a common unified system of customs regulation;
• drawing up and implementing joint programs of economic and social development;
• creating equal conditions for production and entrepreneurial activities;
• forming a common market for transportation services and a unified transport system;
• forming a common energy market;
• creating equal conditions for access by foreign investment to the sides' markets;
• giving the citizens of the Community states equal rights in receiving education and medical assistance throughout its territory;
• converging and harmonizing national legislation;
• ensuring the coordination of the legal systems of the EAEC states with a view to creating a common legal space within the Community.

Institutional framework

Representatives of EAEC and CSTO.

• 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

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-Ogarevo on 23 February 2003. The Common Economic Space would involve a supranational commission on trade and tariffs that would be based in Kiev, would initially be headed by a representative of Kazakhstan, 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 Rada (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.^[4][10] 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 States if every party is treated equally.^[11]

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.^[12]

See also

Wikimedia Commons has media related to: Eurasian Economic Community

• Comecon
• OSCE countries statistics
• Regional organizations in the Post-Soviet space

References