Abstract. A decisive step in developing the process of Eurasian integration was made on May 29, 2014. At the summit meeting in Astana Presidents of Belarus, Kazakhstan and Russia signed the Treaty on establishing the Eurasian economic union (EEU). It marked a major historic event in promoting consolidation and deepening of mutual economic relations between the states which signed the Treaty. Its significance goes far beyond the limits of another intergovernmental document since, in fact, it is about a strongly upgraded and expanded program of Eurasian integration. The article analyses in detail basic clauses of the Treaty as well as problems and prospects of its implementation.