EURASEC is the international economic organization whose functions are concerned with the formation of common customs frontiers of member states, namely Belarus, Russia, Kazakhstan, Kyrgyzstan and Tajikistan. The organization is also authorized for the elaboration of common prices, tariffs and common external policy. The Eurasian Economic Community was created in compliance with the principles of the international legislation and the United Nations.
In October 2000 in Astana, Kazakhstan, Presidents of Russia, Belarus, Kyrgyz Republic, Kazakhstan and Tajikistan signed the Constitutive Treaty of the Eurasian Economic Community. Two years later, on the government's request Ukraine and Moldova became observers of EURASEC. In October 2005, the member states of the Central Asian Cooperation Organization decided to join with organization with the EURASEC with the aim of further promoting Eurasia's development and economic integration.
Since its establishment in 2000, EURASEC has been pursuing a number of purposes and objectives: to enforce formation of Common Economic Area by the member states of the Customs Union; to coordinate their efforts of integration into the international trade system and the world economy; to provide comprehensive development of the member states by coordinating economic reforms with the use of the countries' potential for the improvement of living standards.
The aims of the organization include harmonization of customs tariffs, common market and customs union; establishment of general rules of trade in services and goods, as well as their access to domestic markets; development and implementation of joint programs of economic and social development, creation of equal conditions for entrepreneurial activity and production; the establishment of common market for united transport system and transport services; formation of general energy market; equal rights for citizens of the member states to obtain higher education and medical aid; harmonization and rapprochement of national legislation.
The EURASEC current membership is composed of five states, namely Russia, Belarus, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan. Among the observers of the organization are Ukraine, Moldova and Armenia. The Eurasian Economic Community is an open organization, which means any state accepting its obligations determined in the Constitutive Treaty of EURASEC, can become the member of the organization.
The structure of EAEC comprises the Interstate Council, the Integration Committee, the Secretariat, the Commission of Resident Representatives, the Interparliamentary Assembly and the Court of Justice of the Community.
Operating within EURASEC are number of committees and councils, including the Agro Industrial Policy Council, the Council of Ministers of Justice, the Frontier Issues Council, the Council of the Heads of Tax Administration; the Council of the Heads of Central Banks of the Member States of the Community, the Council of the Transparent Policy, the Council of the Heads of Customs Services and more.