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Two years of the Eurasian economic union: main achievements and development prospects

Author

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  • Sergey Stepanovich Shuhno

    (Eurasian Economic Commission)

Abstract

The main achievements and effects associated with the establishment of the Eurasian Economic Union, progress regarding the formation of the common market and ensuring functioning of the «four freedoms» are considered in the article. Macroeconomic indicators of such effects for the five member states of the EAEU and international aspect of the Union’s activities are revealed. Among main achievements, the author considers such factors as the accession of two new Member States to the EAEU, liberalization of the services market, freedom of labor force movement, the launching of a free trade zone with Vietnam, adoption of the Customs Code of the EAEU, the signing of package of documents for the launch and full operation of common markets for medicines and medical products, adoption of concepts for the formation of common oil and gas markets, expanding international cooperation of the EAEU. Summing up some of the results of the two-year operation of the EAEU, the author discusses the prospects for creating a common economic area from Lisbon to Shanghai in the format of the Bigger Eurasian partnership.

Suggested Citation

  • Sergey Stepanovich Shuhno, 2017. "Two years of the Eurasian economic union: main achievements and development prospects," Russian Foreign Economic Journal, Russian Foreign Trade Academy Ministry of economic development of the Russian Federation, issue 6, pages 3-14, June.
    • Handle: RePEc:alq:rufejo:rfej_2017_06_3-14
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