In 1994, in a speech at Moscow State University, Kazakhstan`s first president, Nursultan Nazarbayev, proposed the idea of creating a « Eurasian Union » as a regional trading bloc to unite with and benefit from the growing economies of Europe and East Asia. The vision would be to simplify the free movement of goods across Eurasia.    The idea was quickly seen as a way to boost trade, boost investment in Central Asia, Armenia and Belarus and complement the Eastern Partnership.   The European Council on Industrial Relations and analysts propose that the Eurasian Union encompass both strategic and economic interests for its Member States, in particular Russia. To connect both Europe and East Asia, Russia is working to develop its eastern regions in order to improve its access to Asian markets. The Russian Far East has gained in importance due to its proximity to alternative markets since the European Union and the United States imposed sanctions on Russia in the wake of the Ukrainian crisis. [Review 5] Kazakhstan is working to strengthen its relations with Turkey, an important player in the region. In July 2014, Turkey announced closer economic relations with EMU, including a possible free trade agreement in the near future.  Uzbekistan has been reluctant to join the Economic Union, with Uzbek officials making contrary claims about the prospect of integration.   Initially, the country preferred not to pursue economic and political integration.    Russian officials have said integration with the country will be slow, and analysts say that if Russian influence and trade multiply in Kyrgyzstan and Tajikistan, Uzbekistan could convince it to join in the future.  Uzbekistan began its integration process when Russia announced that it would pay off $865 million of the country`s debt. Uzbekistan joined the CIS Free Trade Area in 2014, which means it has free trade with the UEA member states.
   According to some sources, Uzbekistan does not intend to become a full member of EAWU because of Uzbekistan`s neutrality, which is enshrined in the country`s legislation. In March 2020, Uzbekistan announced its intention to become an observer state of the Eurasian Union.  During the review of the Eurasian Economic Union, Vladimir Putin stated that the Eurasian Economic Union would involve closer coordination of economic and monetary policies, including the future use of a single currency.  Although the Treaty on eurasian Economic Union did not provide for the creation of a monetary union, Russian Prime Minister Dmitry Medvedev called for the establishment of a single currency for the Eurasian Economic Union. Leonid Slutsky, chairman of the CIS Duma Committee, supported Medvedev`s proposal to start talks on the creation of a monetary union. Slutsky said it could be set up soon after 2015, if the union`s structure becomes clear.   The President of Belarus, Alexander Lukashenko, launched the idea of creating a « new euro » for the Eurasian economic bloc. Discussions on the introduction of a single currency resumed in April 2014. A large number of lakes and rivers are found in the Eurasian Economic Union.
 Among the most important lakes are Ladoga and Onega, two of the largest lakes in Europe. The largest and most important freshwater in the Union is Lake Baikal, the deepest, purest, oldest and largest freshwater lake in the world.  Lake Baikal alone contains more than one-fifth of the world`s fresh water. After Brazil, Russia occupies the second place in the total amount of renewable water resources. Among the many rivers of the Union, the Volga is the most famous, not only because it is the longest in Europe, but also for its important role in history. In Siberia, Ob, Yenisey, Lena and Amur are among the longest rivers in the world. As Russian Deputy Prime Minister Arkady Dvorkovich stated on December 9 On December 27, 2013, Israel was considering starting free trade negotiations with the Eurasian Economic Union.  The feasibility study was conducted between the two parties and it was decided to continue free trade negotiations, which are expected to begin before the end of 2016. .