Facilitating market development across the EAEU

The Eurasian Economic Union (EAEU), established in 2015, is a political and economic union comprising Russia, Belarus, Kazakhstan, the Kyrgyz Republic, and Armenia. Formed to enhance economic integration and ensure the free movement of goods, services, capital, and labour, the EAEU coordinates policies in key sectors such as energy, industry, agriculture, and transport. Rich in critical minerals essential for technology, renewable energy, and defence, the EAEU's collaborative exploration, extraction, and processing strategies ensure a stable supply for regional and global markets. The energy transition is a significant focus, with member states investing heavily in renewable projects to reduce fossil fuel dependence and enhance energy security. This includes substantial investments in wind, solar, and hydroelectric power by Russia and Kazakhstan. Facilitating market development across the EAEU involves reducing trade barriers, harmonising regulations, and promoting investment. This creates an integrated economic space that attracts foreign investment, spurs innovation, and drives economic growth. Despite its ambitious goals, integration remains patchy, with Russia dominating the union. The EAEU's significance in critical minerals and energy policy underscores its role in technological advancements and sustainable development.