EEU Benefits Will Materialize over the Long Term
RUSSIA ENERGY / FINANCE
- Report
12 Jun 2014
by Marcel Salikhov and Leonid Grigoriev
Executive Summary Russia, Kazakhstan, and Belarus signed an agreement on May 29th to create a Eurasian Economic Union. The new union, based on the Customs Union, will take effect January 1, 2015. Armenia and Kyrgyzstan are also expected to join. The EEU will create a market that will account for 3.4% of global GDP (by PPP). In terms of per-capita income, an EaEU will be the third largest economic union, after NAFTA and the European Union. Though the union agreement will take effect next year, at least a decade will be needed to remove all barriers and restrictions. So the EEU will not be fu...
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