Eurasian Economic Union ( UPSC Prelims)

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News Context

 ● India and the Eurasian Economic Union have recently formalized the Terms of Reference for a Free Trade Agreement.  
      ○ This agreement marks a significant step in enhancing trade relations between the two entities.

About Eurasian Economic Union (EAEU)

Overview: This is a global entity focused on regional economic integration.
  ● Genesis: Formed through the Treaty on the Eurasian Economic Union in 2014.  
  ● Member States: Includes Armenia, Belarus, Kazakhstan, the Kyrgyz Republic, and Russia.  
  ● Benefits: Facilitates the free movement of goods, services, capital, and labor.