March 29, 2024
  • Eurasian Economic Union (EAEU) met recently to speed up efforts on proposed Free Trade Agreement (FTA) with India.
  • It would give India market access to resource-rich Eurasia.
    • FTA is a pact between two or more nations to reduce barriers to imports and exports among them.

ABOUT EAEU

  • The Eurasian Economic Union is an international organization for regional economic integration.
  • It came into existence on 1st January 2015.
  • Member states: Armenia, Belarus, Kazakhstan, the Kyrgyz, and Russia.
  • The EAEU provides for free movement of goods, services, capital, and labor within its borders.
  • It pursues, coordinates, & harmonizes the policies in the sectors determined by the Treaty and international agreements within the Union.
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