In 1994, Nazarbayev suggested the idea of creating a "Eurasian Union" during a speech at Moscow State University. On 29 May 2014, Russia, Belarus, and Kazakhstan signed a treaty to create a Eurasian Economic Union which created a single economic space of 170,000,000 people and came into effect in January 2015. Nazarbayev said shortly after the treaty was signed, "We see this as an open space and a new bridge between the growing economies of Europe and Asia." Nazarbayev named Honorary Chairman of Supreme Eurasian Economic Council in May 2019.