Current Issues and Prospects of Eurasian and European Economic Integration

Julia Kukushkina; Elena Ostrovskaya

Kukushkina Julia –Postgraduate student of the Department of International Economic Organizations and European Integration, Faculty of World Economy and International Affairs, National Research University “Higher School of Economics”, 20, Mysnitskaya, Moscow, Russia; E-mail: ykukushkina@mail.ru

Ostrovskaya Elena - PhD in Economics,lecturerof theDepartment of International Economic Organizations and European Integration, Faculty of World Economy and International Affairs, National Research University “Higher School of Economics”, 20, Mysnitskaya, Moscow, Russia; E-mail: eostrovskaya@hse.ru

Abstract

The article discusses crucial issues of regional economic integration with the participation of the Russian Federation. A wide variety of sources: relevant documents, newspapers articles, experts opinions, policymakers speeches were studied by authors to conduct the analysis. The authors interlink the Eurasian integration and Russia-EU strategic partnership and analyze prospects for relations between the Customs Union of Russia, Belarus and Kazakhstan (Customs Union (CU)) and the European Union. Both Russia and the CU members, as well as the EU are interested in building up common economic space from the Atlantic to the Pacific Ocean. Drivers and obstacles to the common economic space between the two regional blocs are identified. Russia’s membership in WTO is the foundation for a success of measures aimed at connecting the integration processes. Nevertheless, the CU accession to the WTO remains an issue of great importance. The authors assert that Russia’s accession to WTO overall has positive impact on Russia’s development and integration processes in the European and CIS areas. The paper concludes that Russia should facilitate Kazakhstan’s and Belarus’s WTO accession and act as a link between European and post-Soviet integration. Otherwise the cooperation between Russia and European Union will stagnate. Joint transcontinental infrastructure and transport projects development will provide new opportunities for integration processes.

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Contacts

Julia Kukushkina, Elena Ostrovskaya¹
¹ HSE University, 17 M. Ordynka Ulitsa, Moscow, 119017, Russia