Eurasian Economic Union (EAEU)
Do you know the benefits of the Eurasian Economic Union for your business development in Eastern Europe ?
Signed on the 29 May 2014, the Treaty on the Eurasian Economic Union (EAEU) comes into effect on 1st January 2015 between Russia, Belarus and Kazakhstan. Armenia and Kyrgyzstan join to the EAEU in 2015. In 2018, the EAEU grants Moldova Observer status and in late 2020, Uzbekistan and Cuba.
The EAEU consists of an integrated market of 180 million consumers and a cumulated GDP exceeding 5,000 billion dollars, in which the Eurasian Customs Union establishes a common external tariff policy and eliminates non-tariff barriers as well as intra-bloc tariffs.
As an international organization for regional economic integration, the EAEU encourages free movement of goods, services, workforce and capital in the sectors targeted by the agreements sealed among its Member States: agriculture, transport, industry, energy, trade, investments…
if you target to extend your sales and develop your business in Russia, Belarus, Kazakhstan, Armenia and Kyrgystan it could be interesting to develop optimized logistics scheme or even to set up your local production in one of these countries to avoid customs duties and other barriers (authorisations, certifications etc…).
In order to better understand possible options for your company, please, set up a meeting with one of the experts from InterTrade Consulting.