The Eurasian Economic Union Treaty (EAEU) came into effect from 1st January 2015. It implies the creation of a common economic union between RF, Republic of Belarus, and Kazakhstan.
The EAEU ensures the freedom of movement of various goods, capitals, and labor force in the economic activity branches as stipulated by the EAEU regulations. This is an international organization intended to create a stable economic atmosphere between the member states as well as improve the standard of living of the populations of the allied states.
It should be noted that the EAEU performs its activity based on the principles of market economy and sound competition as well as mutually profitable cooperation.
It will be recalled that the Union treaty was signed last year in the spring in Astana. In a short time the EAEU is to be joined by the Republic of Armenia and Kyrgyzstan that signed the treaty a little later.