Tagged: Eurasian Economic Union

Kazakhstan Defies Russia over Eurasian Economic Union

By Sarah Lain

Kazakh president Nursultan Nazarbaev and Russian president Vladimir Putin shake hands after signing the treaty on the Eurasian Economic Union Photo: kremlin.ru
Kazakh president Nursultan Nazarbaev and Russian president Vladimir Putin shake hands after signing the treaty on the Eurasian Economic Union Photo: kremlin.ru

On May 29 Kazakhstan, Belarus and Russia signed into existence the Eurasian Economic Union (“EEU”), set to come into force in January 2015. The EEU’s aim is the economic integration of ex-Soviet countries, based on a European Union-style collective model. It builds on the Customs Union, signed in 2010, which implemented a common customs territory and removed internal border controls between the three states. Against the backdrop of a shifting geopolitical landscape sparked by events in Ukraine, and strengthening Russian and Kazakh bi-lateral relations with China, the original vision of the EEU may no longer be viable. Although they wish to show they have a diversified partner base, Kazakhstan and Russia also want to avoid perceptions of any overt economic threat to its shared Chinese partner. This is particularly relevant to Kazakhstan, which has in fact suffered economically from the initial implementation of the Customs Union, as laid out below.

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