The creation of the Customs Union between Russia, Belarus and Kazakhstan in 2011 and its subsequent transformation to the Eurasian Economic Union (EEU) with accession of Kyrgyzstan and Armenia in 2015 was one of the major integrational events in Eurasia.
In October the National Agency on Exports and Investments “KAZNEX INVEST” together with the Chamber of Commerce of the Republic of Tajikistan organized a business forum in Dushanbe with participation of 75 companies of Tajikistan and Kazakhstan.
China leans towards the idea of establishing a free trade zone with the Eurasian Economic Union (EEU). The first round of negotiations on this issue was scheduled to be held in mid-October of 2016 in Moscow. However, later it was postponed due to unreadiness of the two sides.
The most recent reports on the external trade of the Committee of Statistics of the Ministry of the National Economy of Kazakhstan have shown a large decline. During the first half of 2016 the overall amount of trade with other countries has fallen by approximately one third.
Kyrgyzstan’s accession to Eurasian Economic Union (EEU) has been a hot topic for academics, Kyrgyz officials and public interested to the topic to discuss the risks and opportunities it brings to Kyrgyzstan.
The current crisis of the Russian economy receives a great attention not only in Russia itself, but also from its partners from the Eurasian Economic Union (EEU). The economic domination of Russia produces a spillover effect over other members of the EEU.