"Eurasian Economic Union's 10-Year Milestone: Evaluating Achievements versus Expectations"

The Eurasian Economic Union (EAEU), a regional trade bloc consisting of Russia, Armenia, Belarus, Kazakhstan, and Kyrgyzstan, has been making significant strides in expanding its integrated single market and global influence.

One of the key aspects of the EAEU is the ease of labour mobility. Citizens of member states can work in any EAEU country without the need for a visa or special permit, a feature that sets it apart from other trade blocs. For instance, in Russia, employers do not require a permit to hire a foreign worker from an EAEU member country.

The EAEU's economic growth is evident in the common market for services, which was valued at slightly over $8 billion in 2021. However, it encompasses only 15 percent of the service sectors classified by the United Nations Secretariat's Central Product Classification, indicating room for further expansion.

The EAEU's focus on economic integration is evident in its ongoing efforts to enlarge membership. By 2025 and beyond, negotiations with Tajikistan are underway, and the union is aiming for the full introduction of common markets for pharmaceuticals and medical products. The implementation of a trade development program, aiming for full introduction by 2029, is also in progress.

Moreover, the EAEU has been actively pursuing free trade agreements. It currently has such agreements with Vietnam, Singapore, Serbia, and Iran, as well as a trade and economic cooperation agreement with China. External trade remains key for EAEU states, with the economic importance of China and the European Union not being understated.

The EAEU's global ambitions are not limited to trade. It aims to enhance its global image and serve as an economic hub. The C5+ format, which brings the five Central Asian countries to the negotiating table with major global powers, is a testament to this goal.

Remittances from the EAEU diaspora have played a significant role in the economies of member states. Last year, remittances from the Kyrgyzstan diaspora accounted for more than 15 percent of the country's gross domestic product.

It's important to note that unlike the European Union, the EAEU does not aim to evolve into a supranational entity. The official list of limitations does not include restrictions on the free movement of people, reflecting the union's focus on economic integration rather than political unity.

In conclusion, the Eurasian Economic Union is a dynamic regional trade bloc that continues to expand its integrated single market and global influence. With ongoing efforts towards membership enlargement, deeper economic integration, and global partnerships, the EAEU is poised to play a significant role in the global economy.

"Eurasian Economic Union's 10-Year Milestone: Evaluating Achievements versus Expectations"