ABSTRACT
This chapter discusses the major groups formed after Soviet disintegration to promote regional economic cooperation, namely, Central Asia Regional Economic Cooperation (CAREC), Eurasian Economic Community (EurAsEC), EurAsEC Customs Union, EurAsEC Common Economic Space and Eurasian Economic Union (EAEU). The chapter assesses the status and potential of these economic organisations in the Eurasian region. An attempt is made to examine how far these organisations are benefitting the economies of the member countries. It is significant to understand the challenges faced by these groups to comprehend the future prospects of these organisations. The Customs Union is a trade bloc consisting of a free trade area, where member countries share a common external tariff, external trade policy and competition policy. The chapter also analyses the benefits and challenges for India in joining the EAEU. India's trade with the Central Asian region is abysmally low.
