Eurasian Economic Union (Russia)

Abstract

The Eurasian Economic Union (EEU) is a regional organisation established under the dominance of Russia to boost integration procedures of regional economy. The EEU has become an important regional economic organisation. China strengthens cooperation with the EEU in financial fields. A bilateral agreement on local currency swap was signed between China and the EEU member states, which will improve the intensity and depth of economic cooperation between China and the EEU. Various cultural activities are mutually held by China and the EEU countries. EEU expands integration of the regional economy in the Eurasian area, which coincides with the objective of the Belt and Road Initiative in boosting connectivity. The Silk Road Economic Belt cannot only strengthen connectivity between Eurasian economies, but also expands the exporting of EEU member states through the huge scale of the Chinese market to drive economic development of all countries concerned.