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Eurasian Economic Community
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The Eurasian Economic Community (EAEC or EurAsEC) originated from the Commonwealth of Independent States customs union between Belarus, Russia and Kazakhstan on the 29 March 1996. The Treaty on the Establishment of the Eurasian Economic Community was signed on October 10, 2000, in Kazakhstan's capital Astana by Presidents Alexander Lukashenko of Belarus, Nursultan Nazarbayev of Kazakhstan, Askar Akayev of Kyrgyzstan, Vladimir Putin of Russia, and Emomali Rakhmonov of Tajikistan. On October 7, 2005 it was decided between the member states that Uzbekistan will join.
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Encyclopedia
The Eurasian Economic Community (EAEC or EurAsEC) originated from the Commonwealth of Independent States customs union between Belarus, Russia and Kazakhstan on the 29 March 1996. The Treaty on the Establishment of the Eurasian Economic Community was signed on October 10, 2000, in Kazakhstan's capital Astana by Presidents Alexander Lukashenko of Belarus, Nursultan Nazarbayev of Kazakhstan, Askar Akayev of Kyrgyzstan, Vladimir Putin of Russia, and Emomali Rakhmonov of Tajikistan. On October 7, 2005 it was decided between the member states that Uzbekistan will join. Common Economic Space may be launched on January 1, 2010.
Membership
Organization of Central Asian Cooperation
The Organization of Central Asian Cooperation (OCAC) (Central Asian Cooperation Organization, CACO, ) was an international organization, composed of Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan and Russia. Georgia, Turkey and Ukraine had observer status. Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan formed the OCAC in 1991 as Central Asian Commonwealth (CAC). The organization continued in 1994 as Central Asian Economic Union (CAEU), in which Tajikistan and Turkmenistan did not participate. In 1998 it became Central Asian Economic Cooperation (CAEC), which marked the return of Tajikistan.
On February 28, 2002 it was renamed to its current name. Russia joined on May 28, 2004. In October, 2005 Uzbekistan applied for membership in EAEC. Organizations merged on 25 January 2006, when Uzbekistan joined. It is not clear what will happen to the status of current CACO observers that are not observers to EAEC (Georgia and Turkey).
Aims
EAEC was established for effective promotion of the creation by the Customs Union member states of a Single Economic Space and for coordinating their approaches while integrating into the world economy and the international trade system. One of the Organization's chief activity vectors is ensuring the dynamic evolution of the Community states through coordinating their economic and social reforms while effectively using their economic potentials to improve the living standards of their peoples.
Among the principal tasks of the Community are:
- completing the formalization of a free trade regime in all respects, creating a unified customs tariff and a unified system of nontariff regulation measures;
- laying down the common rules for trade in goods and services and their access to internal markets;
- introducing a unified procedure for foreign exchange controls;
- creating a common unified system of customs regulation;
- drawing up and implementing joint programs of economic and social development;
- creating equal conditions for production and entrepreneurial activities;
- forming a common market for transportation services and a unified transport system;
- forming a common energy market;
- creating equal conditions for access by foreign investment to the sides' markets;
- giving the citizens of the Community states equal rights in receiving education and medical assistance throughout its territory;
- converging and harmonizing national legislation;
- ensuring the coordination of the legal systems of the EAEC states with a view to creating a common legal space within the Community.
Institutional framework
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