Abstract
Eurasian Economic Union started its operation as a customs union in 2011 and moved towards a deeper integration by establishing an economic union in 2015. The Union consists of Armenia, Belarus, Kazakhstan, the Kyrgyz Republic, and Russia. The personality of the union is internationally recognized and established by the Treaty on the Eurasian Economic Union. The Treaty defines the purposes of the agreement as stable economic development, the creation of common and harmonized markers for goods and services and boosting the global competitiveness within the trade bloc members. It covers an economic area of $2,045 trillion GDP, 183.6 million people and is a major hub of oil, gas, and power generation. The economic area is also notable for its agriculture production which reaches 136 billion USD.
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