The issue of granting observer nation status to Uzbekistan to be discussed at EAEU summit

6 months ago Web Desk 0

A summit of the Eurasian Economic Union (EAEU) is being held via videoconference today.


Russian media reports say the summit will focus on joint fights against the novel coronavirus (COVID-19) and long-term integrations strategy.


The summit, which was planned to take place in Minsk, is being held online due to the coronavirus pandemic.


Joint efforts to counter the pandemic are expected to dominate the agenda. The EAEU leaders will also discuss a draft strategy for integration development until 2025 and steps toward further expanding the common market, as well as a draft agreement on the exchange of information to counter money laundering and terrorist financing, according to Sputnik.


Besides, they will discuss the issue of granting an EAEU observer nation status to Cuba and Uzbekistan.


The Eurasian Economic Union (EAEU) is an economic union of states located primarily in northern Eurasia.  A treaty aiming for the establishment of the EAEU was signed on May 29, 2014 by the leaders of Belarus, Kazakhstan and Russia, and came into force on January 1, 2015.  Treaties aiming for Armenia’s and Kyrgyzstan’s accession to the Eurasian Economic Union were signed on October 9 and December 23, 2014, respectively.  Armenia’s accession treaty came into force on January 2, 2015.  Kyrgyzstan’s accession treaty came into effect on August 6, 2015.


The Eurasian Economic Union has an integrated single market of 183 million people and a gross domestic product of over 4 trillion U.S. dollars (PPP).  The EEU introduces the free movement of goods, capital, services and people and provides for common transport, agriculture and energy policies, with provisions for a single currency and greater integration in the future.  The union operates through supranational and intergovernmental institutions.  The Supreme Eurasian Economic Council is the “Supreme Body” of the Union, consisting of the Heads of the Member States.  The other supranational institutions are the Eurasian Commission (the executive body), the Eurasian Intergovernmental Council (consisting of the Prime Ministers of member states) and the Court of the EEU (the judicial body).


Source: Asia Plus