Eurasian Economic Union (EAEU) | UPSC CSE

Why in News: Commerce Secretary Rajesh Agrawal held a series of meetings in Moscow to review and accelerate negotiations on the India–Eurasian Economic Union (EAEU) Free Trade Agreement.

India aims to fast-track the FTA, boost bilateral trade to USD 100 billion by 2030, and expand Indian exports through industrial and technological collaboration with EAEU economies.

Eurasian Economic Union (EAEU):

• The EAEU is an international organisation for regional economic integration with an international legal personality.
• It seeks to ensure free movement of goods, services, capital, and labour across member states, along with harmonised economic policies.

Establishment

• Formed through the Treaty on the Eurasian Economic Union, which entered into force in 2015.
• It represents a deepening of earlier Eurasian economic cooperation frameworks.

Member States

• Armenia
• Belarus
• Kazakhstan
• Kyrgyzstan
• Russia

Headquarters Located in Moscow, Russia.

Source: PIB

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