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Main trends in the formation of regional economic unions in the geoeconomic space of Eurasia

Journal: İqtisadi Artım və İctimai Rifah- Journal of Economic Growth and Social Welfare (Vol.2, No. 2)

Publication Date:

Authors : ;

Page : 41-53

Keywords : mainstream integration trends; geo-economic space of Eurasia; European Union; Eurasian Economic Union; Eastern partnership; regional unions; transformational trends;

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The article makes an attempt to analyze the main trends in the development of inte-gration processes in the Eurasian geo-economic space for the period from 1950 to 2020. The author also touches upon such important issues as the principles of the formation and functioning of integration unions on the Eurasian continent. Various types of integration blocks are distinguished, and the reasons for the beginning of transformation processes in the geo-economic space of Eurasia are identified, with an emphasis on the features of regional integration unions and the priorities of participation of the Eastern Partnership countries in them. The article concludes that there are three main integration trends in the Eurasian geo-economic space, which are formed in the following mega-regional economic unions: the EU, EAEU and BSEC, as well as the local economic union GUAM. EU continues to strengthen its geostrategic positions on the continent, Russia, through the establishment of the EAEU, has formed its main integration trend, and the BSEC has the potential for further development in the coming years. GUAM, as a local economic union, is functioning at the junction of the above-mentioned mainstream integration unions.

Last modified: 2021-08-18 03:36:04