Eurasian Economic Space

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.

Eurasian Economic Space

An orthographic projection of the world highlighting Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia in green.
Policy of EAEU
TypeSingle market
Member states
Establishment1 January 2012
Area
• Total
20,260,431 km2 (7,822,596 sq mi)
Population
• 2013 estimate
182,519,270[1][2][3][4][5]
• Density
9.01/km2 (23.3/sq mi)
GDP (PPP)2013 estimate
• Total
$4.1 trillion[6]
• Per capita
$22,000
GDP (nominal)2013 estimate
• Total
$2.4 trillion[7]
• Per capita
$13,000

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 SpaceEdit

See alsoEdit

ReferencesEdit

  1. ^ http://www.gks.ru/bgd/free/B14_00/IssWWW.exe/Stg/[permanent dead link]/%3Cextid%3E/%3Cstoragepath%3E::%7Cdk11/8-0.doc
  2. ^ "The World Factbook".
  3. ^ "Archived copy". Archived from the original on 2014-11-16. Retrieved 2015-06-22.CS1 maint: archived copy as title (link)
  4. ^ "Data" (PDF). www.armstat.am.
  5. ^ "Census data". www.stat.kg.
  6. ^ "The World Factbook — Central Intelligence Agency". Retrieved 27 March 2014.
  7. ^ "The World Factbook — Central Intelligence Agency". Retrieved 27 March 2014.
  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 Archived 2016-06-11 at the Wayback Machine, 24.kg. Retrieved 11 January 2014.