The fundamental principles of the Eurasian Economic Union that will be launched on January 1, 2015 are equality, pragmatism and mutual respect, Russian president said.

Vladimir Putin stressed that one of the fundamental principles is preservation of national character and sovereignty of states in the Eurasian Union, TASS reported.

“I am convinced that close cooperation will become a powerful source for development for all EEU participants,” he said in an address to the Federal Assembly.