Single Economic Space of the Eurasian Economic Union explained

Conventional Long Name:Eurasian Economic Space
Alt Map:An orthographic projection of the world highlighting Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia in green.
Map Width:150px
Admin Center: EAEU
Admin Center Type:Policy of
Membership Type:Member states
Org Type:Single market
Established:1 January 2012
Area Km2:20,260,431
Area Sq Mi:7,822,596
Population Estimate:182,519,270[1] [2] [3] [4] [5]
Population Estimate Year:2013
Population Density Km2:9.01
Gdp Ppp:$4.1 trillion[6]
Gdp Ppp Year:2013
Gdp Ppp Per Capita:$22,000
Gdp Nominal:$2.4 trillion[7]
Gdp Nominal Year:2013
Gdp Nominal Per Capita:$13,000

The Eurasian Economic Space or Single Economic Space is a single market that provides for the free movement of persons, goods, services and capital within the Eurasian Economic Union. The Single Economic Space was established in 2012 with the goal of creating an integrated single market. It is inspired by the European Internal market and the European Economic Area.

The Eurasian Economic Space initially consisted of Belarus, Kazakhstan, and Russia, and was enlarged to include Armenia and Kyrgyzstan from 1 January 2015.[8] The original treaty establishing the Single Economic Space was terminated by the agreement establishing the Eurasian Economic Union, signed in 2014, which incorporated the economic space into the EEU's legal framework.

The Economic Space was established after Belarus, Kazakhstan and Russia had removed all customs borders in July 2011 through the Eurasian Customs Union. The Single Economic Space aimed to promote further economic integration. The creation of the Eurasian Economic Space was guaranteed by 3 different treaties. The first treaty in 2003 guaranteeing its creation, the second in 2007 guaranteeing its formation and the third in 2011 announced the establishment of the economic space and the formation of the common market.

Member states of the Eurasian Economic Space

See also

Notes and References

  1. http://www.gks.ru/bgd/free/B14_00/IssWWW.exe/Stg//%3Cextid%3E/%3Cstoragepath%3E::%7Cdk11/8-0.doc Archived copy
  2. Web site: The World Factbook. 6 October 2022 .
  3. Web site: О демографической ситуации в январе-сентябре 2014 г . 2015-06-22 . https://web.archive.org/web/20141116023501/http://belstat.gov.by/ofitsialnaya-statistika/otrasli-statistiki/naselenie/demografiya_2/operativnaya-informatsiya_1/o-demograficheskoi-situatsii-v-yanvare-sentyabre-2014-g/ . 2014-11-16 . dead .
  4. Web site: Data . www.armstat.am .
  5. Web site: Census data . National Statistics Committee of the Kyrgyz Republic.
  6. Web site: The World Factbook — Central Intelligence Agency . https://web.archive.org/web/20070613003104/https://www.cia.gov/library/publications/the-world-factbook/rankorder/2001rank.html . dead . June 13, 2007 . 27 March 2014.
  7. Web site: The World Factbook — Central Intelligence Agency . 27 March 2014 . 24 December 2018 . https://web.archive.org/web/20181224231351/https://www.cia.gov/library/publications/the-world-factbook/fields/2195.html#up . dead .
  8. Kyrgyzstan and Armenia will officially enter the Eurasian Customs Union that was created by Russia, Belarus and Kazakhstan, on the January 1, 2015., Kyrgyzstan, Armenia officially enter Eurasian Economic Union, 24.kg. Retrieved 11 January 2014.