EAEU International Treaties and Acts

Treaty on the Eurasian Economic Union

On May 29, 2014, in Astana (Republic of Kazakhstan), during the meeting of the Supreme Eurasian Economic Council, the Heads of Belarus, Kazakhstan, and Russia signed the Treaty on the Eurasian Economic Union. Later, on October 10, 2014, the Republic of Armenia acceded to the Treaty, followed by the Kyrgyz Republic on December 23, 2014. The Treaty on the Eurasian Economic Union entered into force on January 1, 2015.

The Eurasian Economic Union is an international organization for regional economic integration possessing legal personality under international law. Within the framework of the Treaty, the freedom of movement of goods, services, capital, and labor is ensured, as well as the implementation of coordinated, agreed, or common policy in the economic sectors determined by the Treaty and international treaties within the EAEU.

Annex No. 17 to the Treaty on the Eurasian Economic Union (Protocol on Financial Services) applies to measures of the EAEU Member States affecting trade in financial services, as well as the establishment and (or) activities of financial service suppliers. According to the document, in the banking sector, Member States shall harmonize requirements for the regulation and supervision of credit institutions, guided in their actions by international best practices and the Core Principles for Effective Banking Supervision of the Basel Committee on Banking Supervision.

Concept for Forming the Common Financial Market of the Eurasian Economic Union

The Concept was developed in 2019 for the purpose of implementing the Treaty on the Eurasian Economic Union. It defines the objectives, principles, stages, criteria, and main directions for the formation of the common financial market of the Eurasian Economic Union, which is an integral part of Eurasian integration. The common financial market is formed with the aim of increasing the level of availability, quality, and range of financial services for companies and citizens of the EAEU Member States, as well as ensuring the growth and increasing the efficiency of the financial sector of the Member States and developing competition in this market.

Memorandum of Cooperation on Harmonization of Deposit Insurance Systems of the Member States of the Eurasian Economic Union

The Memorandum was concluded between the deposit insurance (guarantee) organizations of the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, and the Russian Federation on February 27, 2019, to facilitate the implementation of the provisions of the Treaty on the Eurasian Economic Union.

The objectives of the Memorandum are to develop cooperation, exchange information, analyze international practice, and develop a consolidated position of organizations managing the operation of bank deposit insurance (guarantee) systems in the EAEU Member States, as well as their interaction with the EEC, national central banks, executive authorities, other interested parties, and organizations of the EAEU Member States.