What are the objectives of the EAEU?

The Eurasian Economic Union (EAEU) has several objectives, which include:

1. Promoting economic integration: The EAEU aims to create a common economic space among its member states, which currently include Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia. This integration is intended to facilitate the free movement of goods, services, capital, and labor within the union, leading to increased trade and economic cooperation.

2. Enhancing competitiveness: The EAEU seeks to improve the competitiveness of its member states by harmonizing regulations, standards, and technical requirements. This alignment helps eliminate trade barriers and reduces transaction costs, making it easier for businesses to operate across borders and compete in international markets.

3. Facilitating investment: The EAEU aims to attract foreign direct investment (FDI) by creating a more predictable and transparent business environment. The union works towards harmonizing investment regulations, protecting investors' rights, and promoting cooperation in key sectors, such as energy, transportation, and agriculture.

4. Strengthening cooperation in key sectors: The EAEU focuses on enhancing cooperation in sectors of strategic importance, such as energy, industry, agriculture, and transport. By coordinating policies and sharing resources, the union aims to achieve economies of scale, increase productivity, and promote sustainable development.

5. Promoting social and cultural integration: The EAEU aims to foster social and cultural integration among its member states. This includes promoting educational and cultural exchanges, facilitating labor mobility, and ensuring social protection for workers.

6. Expanding external trade relations: The EAEU seeks to establish and develop mutually beneficial trade relations with other countries and regional organizations. The union aims to negotiate trade agreements, reduce trade barriers, and promote cooperation in areas such as customs, tariffs, and intellectual property rights.

Overall, the objectives of the EAEU revolve around promoting economic integration, enhancing competitiveness, attracting investment, strengthening cooperation in key sectors, fostering social and cultural integration, and expanding external trade relations.