In Armenia over 64% of the population lives in urban areas. In 2015, 6 billion Rubles will be allocated for the activity of the Eurasian Economic Commission, 463 million Rubles will be set aside for financing the operation and further development of the EAEU integrated information system designed to promote and inform consumers of the EAEU's activities, and over 290 millions Rubles will finance the activities of the Court of the EAEU.

[citation needed], Yerevan, the capital and financial hub of Armenia, Business centre in central downtown Nur-Sultan, Almaty, the major commercial and cultural centre of Kazakhstan, Bishkek, the capital and financial hub of Kyrgyzstan.

[167], Russia's economic development minister stated that the Turkish economic minister, Nihat Zeybekci, put forward an initiative for closer cooperation with the Eurasian Economic Union, including the formation of a free trade zone between the union and Turkey. Armenia and Kyrgyzstan signed EAEU accession agreements in Oct. 2014 and Dec. 2014, respectively. Objectives include joint coordination in the area of energy, industry, agriculture and transport. [177] While the "linking" mostly is understood as support for infrastructure investments, there are ongoing negotiations between the EAEU and China on a "trade and economic agreement" in order to build "an open economic architecture without a political component, oriented on business and reducing barriers". The three states are the founding members of the Eurasian Economic Union. [150] The project will reportedly help turn the airspace of the Eurasian Union into a popular transit hub between Europe and Southeast Asia.

[87][88][89] According to some sources, Uzbekistan does not intend to become a full member of the EAEU,[90] due to Uzbekistan's neutrality which is enshrined in the country's legislation. Experts believe the negotiations will take around 2 to 3 years to finish. [23] However, the impact or legacy of that agreement is unclear[241] – trade between the three states actually fell 13% during the agreement's first year.

[99][100] Russia's Prime Minister Dmitri Medvedev included Georgia as a prospective member in statements made in August 2013.[101]. Analysts believe Russia backs the Eurasian Economic Union in order to limit western influence in the region. The country holds about 4 billion tons of proven recoverable oil reserves and 2,000 cubic kilometers (480 cu mi) of gas. [42], The Eastern European Plain encompasses Belarus and most of European Russia. [journal 5] However, the development of the Russian Far East may face difficulties due to Russia's traditional orientation towards Europe and the region's backward infrastructure and underdeveloped economy. Its headquarters is in Minsk. Votes in the commission are weighted so that every country has 3 votes. Slutsky said it could be introduced shortly after 2015, when the union's structure becomes clear. Major infrastructure projects began during the 2000s in order to modernise and connect the regional bloc to other markets, facilitating both integration and trade in the region. The highways connect the EAEU to many countries including Finland, Turkey, Iran, Pakistan, India, Laos, Thailand, Burma and China. Under the Han Dynasty, its trade routes extended to the Roman Empire. Suspended with regard to Russia from 1 January 2016, Article 8 and 10, Treaty on the Eurasian Economic Union, Treaty on the Commonwealth of Independent States, Treaty on the Eurasian Economic Community, Member states of the Eurasian Economic Union, Enlargement of the Eurasian Economic Union, sanctions on Russia following the crisis in Ukraine, Community for Democracy and Rights of Nations, List of multilateral free-trade agreements, Commonwealth of Independent States Free Trade Area, "Eurasian economic integration: figures and facts", "Towards a Eurasian Economic Union: The challenge of integration and unity", "The Eurasian Union: Dynamics and Difficulties of the Post-Soviet Integration", "A Eurasian European Union?

The lowest point in the Eurasian Economic Union is the Karagiye Depression in Kazakhstan. [journal 7] In 2012 Russian President Vladimir Putin called for Russia to "catch the Chinese wind in the sails of the Russian economy". [33][34] On 18 November 2011, the presidents of Belarus, Kazakhstan, and Russia signed an agreement setting a target of establishing the Eurasian Economic Union by 2015. [218] Joining the Union allowed the country to get even more tangible economic effects due to the functioning of the Common Economic Space, the use of common technical regulation, sanitary and phytosanitary measures, non-tariff regulation. The Eurasian Economic Union was created in part in response to the economic and political influence of the European Union (EU) and other Western trade agreements. The Eurasian Development Bank finances projects to further integration and develop agriculture.

In July 2013 he stated "Rail freight traffic to our Far East ports has increased by 55 percent over the last 5 years and now comes to around 110 million tons a year". Armenia also benefited in the form of secured privileges for 752 products until 2020, which implies no EAEU tariffs due to Union membership. The EAEU heads of state comprise a governing body known as The Supreme Eurasian Economic Council, and the executive body which oversees day-to-day operations is known as the Eurasian Economic Commission, an analog to the European Commission.

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