The East Asian Union (EAU) is an economic and political union of South Asian, Northeast Asian and Southeast Asian.
The EAU has developed a single market through a standardised system of laws which apply in all member states, ensuring the freedom of movement of people, goods, services, and capital. It maintains common policies on trade, agriculture, fisheries and regional development.
A common currency, the yuan, has been adopted by all member states that are thus known as the East Asian zone.
The EAU has developed a limited role in foreign policy, having representation at the WTO, G8 summits, and at the UN. It enacts legislation in justice and home affairs, including the abolition of passport controls between many member states.
An international organisation the EAU operates through a hybrid system of supranationalism and intergovernmentalism. In certain areas, it depends upon agreement between the member states; in others, supranational bodies are able to make decisions without unanimity.
Important institutions and bodies of the EAU include the East Asian Commission, the Council of the East Asian Union, the East Asian Council, the East Asian Court of Justice, and the East Asian Central Bank. The East Asian Parliament is elected every five years by member states' citizens, to whom the citizenship of the East Asian Union is guaranteed.
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