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Eurasian Economic Union

EAEU, EU sooner or later will come to “deep partnership” - official

MOSCOW, October 11. /TASS/. The Eurasian Economic Union (EAEU) and the European Union (EU) sooner or later will come to joining efforts and to a “deep partnership” to develop free trade, head of the Eurasian Economic Commission Viktor Khristenko told the Vesti on Saturday television programme.

“I consider as most necessary a big project of the kind between the Eurasian and the European Unions,” he said commenting on the development of the idea of “free trade zone from Lisbon to Vladivostok.” “I am telling you, if we have a long-term task of the kind, many worries will fade away and simple solutions will be possible.”

He expressed confidence the cool relations between Russia and the EU, which followed the situation in Ukraine, “will go,” though chose not to give any time forecasts.

The fact that Armenia does not have ground borders with other countries of the Eurasian Economic Union (EAEU) will not be an obstacle for the country’s joining the Union, Khristenko said.

“It is not an issue,” he said. “This problem is, probably, even less than that to deliver goods from the Far East, form Vladivostok, to Moscow inside one country. From the point of view of pricing or logistics.”

“The Eurasian Union means four freedoms - goods, services, capitals, labour force. For the three latter borders are of less and less importance,” he said.

The Eurasian Economic Union Treaty was signed by the presidents of Russia, Kazakhstan and Belarus on May 29, 2014. The treaty provides for free movement of commodity, services, capital and labour force within the union. It also envisages that the three countries coordinate or pursue common policy in certain economic sectors. The Eurasian Economic Union is seen as a tool to strengthen economies of its member states and to bring them closer together, moreover, such closer integration will add to their competitive edge on the global market. It will begin functioning on January 1, 2015.

In 2010, Vladimir Putin, the then Russian Prime Minister, called for organisation of “harmonious community of economies from Lisbon to Vladivostok”, with further probable formation of a continental free trade zone.

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