The vision of a common economic space from Lisbon to Vladivostok has a long history since the 1950s. The Initiative believes that this vision can be turned into reality, and sees a multi-level partnership between the European Union (EU) and the Eurasian Economic Union (EAEU) as the core aspect of such a common economic space.
Cooperation between EU and EAEU will bring enormous benefits for trade and business, especially for small and midsize companies in Europe and Eurasia.
The Initiative was founded in 2015 and is driven by businesses, business associations, and think tanks from different member countries of the EU and the EAEU. Among the founding members are the German-Russian Forum, the German Chamber of Commerce, and the German Eastern Business Association, as well as corporations such as Siemens, Bosch, Severstal, and many others.
Today the Initiative counts on more than 100 members from 12 countries from the EU and the EAEU. It sees itself as an open circle involving all countries from Lisbon to Vladivostok. The supporting institutions strive to create a multilaterally-focused movement that goes beyond the status quo.
The markets of the EU and the EAEU cover a total of more than 630 million inhabitants with diverse markets that can complement each other. A common economic area can develop the necessary strength to effectively work together on European and Eurasian continents to address the global issues of the future.
Despite different levels of development of the two Unions, a dialogue, first of all on regulatory and technical level, should be moved forward. This should be done through creating lasting networks between officials of the two commissions and by maintaining regular dialogue in the countries of the EU and the EAEU.
Aims of the Initiative:
- Being a counterbalance to growing global protectionism.
- Advancing the possibility of a free trade agreement between the EU and the EAEU.
- Developing concrete proposals for cooperation in the interest of business of the EU and the EAEU.
Besides establishing a free trade zone in the long-run, there are many regulatory and technical areas that the Initiative seeks to work on:
- LONG TERM GOALS:
- Free trade agreement
- Visa free regime
- MID TERM GOALS:
- Harmonization of technical standards
- Harmonization of customs regulations
- Visa liberalization
- Shaping the Green Deal
- Harmonization of pharmaceutical regulations
- Alignment of VAT regulations
- Harmonization of transport regulations