Articles of category "Eurasian Economic Community"

Since the 1990s, Russian economics has been subject to many transformations, including the dismantling of centrally planned economy regarded as a hallmark of the Soviet Union, and its replacement by the economy which operates on the basis of private property and market forces. This process of economic transition was initiated by some of the former communist states of Central Europe a few years before Russia, which provided insight into effects of such transition.

The Eurasian Economic Community, commonly referred to as EURASEC or EAEC, was formed in October 2000, when Russia, Belarus, Tajikistan and Kyrgyzstan signed the treaty. However, it wasn't until May 2001 that the organization was officially established. EURASEC membership is composed of nations which are members of the Commonwealth of Independent States, while the relations between these organizations are ambiguous.