Cuba Becomes an Observer Member of the Eurasian Economic Union

Following a request by Cuban authorities early this year, the Eurasian Economic Union (EAEU) Friday granted Cuba the status of observer country before the regional block. 

RELATED: 

Cuba Will Unify Its Currency and Exchange Rates On January 1st

The announcement was made by Belarusia's President Alexander Lukashenko who serves as pro tempore EAEU chairman.

In September, a Cuban delegation presided over by Deputy Minister Ricardo Cabrisas held officials talks with the Eurasian Economic Commission (EEC) in order to boost cooperation.

Cuba's President Miguel Diaz-Canel noted the importance of the decisión, highlighting the opportunity to develop economic ties with EAEU member states. 

The EAEU was founded in 2015 and is composed of Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia. Cuba's request was submitted in May this year.

Likewise, President Lukashenko announced that Uzbekistan's request to be an observer country was also approved. Before Cuba and Uzbekistan, only Moldova had a country observer status.

On December 4,  EAEU Intergovernmental Council approved its guideline for economic integration until 2025, including a list of exemptions and restrictions in the Union’s internal market to be eliminated in 2021-2022.