Agreement creating Eurasian Economic Union signed

On 29 May 2014, the presidents of Russia, Kazakhstan and Belarus signed an agreement (EEU Agreement) establishing the Eurasian Economic Union (EEU).

According to the EEU Agreement, the EEU’s primary purposes are to: create the conditions for the stable development of the economy of the member states; form a single market for goods, services, capital and labour resources within the EEU; and contribute to the overall modernisation and competitive growth of the national economies of the member states, within the global economic environment.

The EEU Agreement declares that the EEU is founded, and shall exist, based on the principles of observance of international law (including sovereignty and territorial integrity of the member states), mutually beneficial international co-operation, free market economy and fair competition…

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