Евразийское экономическое сообщество

Eurasian Economic Community is an international organization that ensures multilateral economic cooperation among its member states.

The EurAsEC was founded according to the Treaty on the Establishment of the Eurasian Economic Community, signed by the presidents of the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation and the Republic of Tajikistan in Astana on October 10, 2000.

In January 2006 the Republic of Uzbekistan joined the Community, but suspended its participation in the work of the EurAsEC's governing bodies since 2008.

In May 2002 the Republics of Moldova and Ukraine were granted observer status at the EurAsEC, and in April 2003 the same status was granted to the Republic of Armenia.

Incorporated as an international legal body, in 2003 EurAsEC was granted observer status in the United Nations General Assembly. During its 62nd session in December 2007 the UN GA adopted the resolution "Cooperation between the United Nations and the Eurasian Economic Community (EurAsEC)".

EurAsEC member states occupy a total area of 20.3 m sq. km. Their population exceeds 181 m. The trade turnover of the member states has increased three times since 2002, and in 2007 exceeded USD 90 bn.

During the Interstate Council meeting on August 16 2006 in Sochi heads of state Alexander Lukashenko, Nursultan Nazarbayev, Kurmanbek Bakiyev, Vladimir Putin, Emomali Rakhmon and Islam Karimov made a decision to establish a customs union within the EurAsEC framework, with the Republic of Belarus, the Republic of Kazakhstan and the Russian Federation as initial members. Other EurAsEC member states will join the customs union when their economies are ready to take this step. During the IC meeting on October 6, 2007 in Dushanbe they considered the issue of forming the legal basis of the customs union and signed some agreements on the subject.

The establishment of the EurAsEC customs union and common economic space will enable the Community to become in the near future a rapidly developing organization for regional integratlon, able to ensure effective use of existing economic potential to raise the living standard of its peoples.