Current Affairs - Economy - Discussion

India has signed the Terms of Reference (ToR) with the Eurasian Economic Union (EAEU) to initiate negotiations on a Free Trade Agreement. Established in 2015 and headquartered in Moscow, the EAEU includes Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia. The bloc ensures free movement of goods, services, capital, and labor while promoting regional economic integration. For India, this engagement holds immense significance by providing access to a USD 6.5 trillion market, enhancing energy security, and strengthening trade diversification beyond the US and EU. It also supports India’s connectivity initiatives such as the INSTC and Chennai–Vladivostok Corridor, paving the way for long-term strategic cooperation.