On 10 October 2000 the heads of Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan signed the Agreement on Establishment of the Eurasian Economic Community.
Since may 2002 Georgia and Ukraine have been observers in the Community. Since 2003 Armenia has had the same status. The Interstate Aviation Committee (IAC) and the Eurasian Development Bank (EDB) have the same status.
In December 2003 the Eurasian Economic Community was granted observer status at the UN General Assembly.
The supreme body of the Eurasian Economic Community is the Interstate Council of EurAsEc, which consists of the heads of the states and the heads of the governments. Permanent body of the Eurasian Economic Community is the Integration Committee, which is accountable to the Interstate Council of EurAsEC. The Secretariat performs the function of the organization, information and technical support of the Interstate Council and the Integration Committee.
In addition, the structure of the EEC consists of the Commission of Permanent Representatives of Member States, the Inter-Parliamentary Assembly, Anti-Crisis Fund and the Court of the EurAsEC.
It did not take long for EAEC to became one of the leading international associations in the former Soviet Union.
The main aim of the Community is the support for the completion of the Custom Union and the creation of the Common Economic Space (Area).
One of the priorities of the Eurasian Economic Community is to ensure the dynamic development of the Community through the harmonization of social and economic changes in the effective use of their economic potentials in order to improve the living standards of people.
Within the framework of the EurAsEc attention is paid to the various intergovernmental programs:
In 2009 the Republic of Belarus chaired in the EurAsEc. During the chairment of Belarus community efforts were directed at:
Activities for 2011 – 2013 and subsequent years approved by the Heads of States to implement the EurAsEC development priorities include matters on the creation of a Customs Union and Common Economic Space; a coordinated economic policy; formation of a common financial market development and monetary integration; enhancing interaction in the real economy; formation and joint development of energy market; formation of the Transport Union of the EurAsEC; cooperation in the agricultural sector; co-operation in social and humanitarian sphere and in the field of migration policy; a coordinated environmental policy; improvement the management of the Community.
A new version of the Statute of the EurAsEC was adopted in 2010. In 2011 the documents on the formation of the EurAsEC Court were signed, pursuant to which the Court began its work on January 1, 2012 with the headquarters being in Minsk.
Ñooperation in the EurAsEC Anti-Crisis Fund continues. An Agreement between the Republic of Belarus and the Eurasian Development Bank to grant Belarus a loan from the financial Crisis Fund in the amount of U.S. $ 3 billion was signed on June 9, 2011 in Minsk.
The most important result of joint work within the framework of the EurAsEC in recent years has been the creation of the Customs Union of Belarus, Kazakhstan and the Russian Federation, and the formation of the legal framework of the Common Economic Space of the three countries and its start on January 1, 2012.
Heads of Member-States shared the view that the Eurasian Economic Community completed its primary task of the Customs Union and Common Economic Space on December 19, 2011 at the meeting of the EurAsEC Interstate. It was agreed to reorganize the community.
In this regard, the proposals by Member-States were prepared.
Their consideration was a key theme of the meeting of Presidents of Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan, March 19, 2012.
Following the meeting it was agreed to continue working on approaches to transform the community.