Establishing the customs union and single market (2010-2014)

The Customs Union of Belarus, Kazakhstan, and Russia (now the Eurasian Customs Union) came into existence on 1 January 2010. The Customs Union's priorities were the elimination of intra-bloc tariffs, establishing a common external tariff policy and the elimination of non-tariff barriers

On 1 January 2012, the three states established the Eurasian Economic Space, which ensures the effective functioning of a single market for goods, services, capital and labour, and to establish coherent industrial, transport, energy and agricultural policies. The Eurasian Economic Union has an integrated single market of 183 million people and a gross domestic product of over 4 trillion U.S. dollars. The EAEU introduces the free movement of goods, capital, services and people and provides for common policies in macroeconomic sphere, transport, industry and agriculture, energy, foreign trade and investment, customs, technical regulation, competition and antitrust regulation. Provisions for a single currency and greater integration are envisioned in future.

The agreement included a roadmap for future integration and established the Eurasian Economic Commission. The Eurasian Economic Commission serves as the regulatory agency for the Eurasian Customs Union, the Single Economic Space and the Eurasian Economic Union.

The union operates through supranational and intergovernmental institutions. All institutions carry out their work in compliance with the Treaty on the Eurasian Economic Commission (EEC) and the international agreements that provide the legal and regulatory framework of the Customs Union and the Single Economic Space.

The core objective of the Single Economic Space is the development of a single market and achieving the "four freedoms", namely the free movements of goods, capital, services and people within the single market. The free movement of people means that citizens can move freely among member states to live, work, study or retire. Citizens of the member states of the union may travel to other member states on an internal passport. Member states have a common external tariff on all goods entering the market and unified methods of valuing imported goods since the creation of the Eurasian Customs Union on 1 January 2010. Objectives include joint coordination in the area of energy, industry, agriculture and transport.

Eurasian Economic Commission

The Eurasian Commission is the supranational governing body of the Eurasian Economic Space, which started work on 1 January 2012. Its headquarters are in Moscow. The commission monitors subordinate branches and advisory bodies. 

The Eurasian Commission can take decisions on not only the customs policy of the union, but also on the macro-economy, the competition regulations, the energy policy and the fiscal policy of the Eurasian Economic Union. It has strict anti-corruption laws.

The Eurasian Economic Commission consists of two bodies: the Council and the Collegium.

Council

The council is composed of the Vice Prime Ministers of the member states. The council of the Commission oversees the integration processes in the Union, and is responsible for the overall management of the Eurasian Commission. It monitors the commission by approving the draft budget of the union, the maximum number of personnel, and the qualification requirements for the commission's employees. The council convenes once every quarter.

It also considers issues of customs cooperation, trade and development of Eurasian integration. The council regularly holds discussions on the important aspects of the EAEU and meets with business representatives of the member states.

Collegium

The collegium is composed of twelve commissioners, one of which is the Chairman of the board. Each member state provides three commissioners to the Collegium of the Eurasian Commission who carry out the operational management and oversee the everyday work of the Eurasian Commission. All twelve commissioners are appointed by the Supreme Eurasian Council for a four-year renewable term. The commissioners also receive the status of federal ministers in their respective countries.

The Collegium of the Commission is the executive body of the Commission. It convenes once every week at least, and is responsible for the day-to-day running of the Eurasian Economic Union. It has a wide range of activities, including monitoring the implementation of treaties, submitting annual progress reports and making recommendations. The board of the commission also assists member states in the settlement of disputes, and carries out the draft of the union's budget. Part of its activities include being the intermediary between the departments of the commission and the heads of state of the member states. The departments enable the Board of the Eurasian Commission to make decisions not only with regard to customs policies, but in such areas as macroeconomics, regulation of economic competition, energy policy and financial policy. The Commission departments are also involved in government procurement and labour migration control.

Parliament

As of 2015, the EAEU has no directly or indirectly elected body. In 2012, the creation of a Eurasian parliament was under consideration. Russian president Vladimir Putin has upheld the idea of creating a parliament for the union.

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