International trade of the Eurasian Economic Union (EAEU)

Abstract

Purpose: The main purpose of this research is to analyse the international trade of the EAEU member states. Methodology: The paper is based on the use of indicators such as the trade balance, intra-industry trade, import content of exports, trade openness, and the share of exports in GDP. Results: The results show openness to foreign trade and export orientation of the EAEU member states. Conclusion: The conclusion is that international trade, the rapid growth of export, and trade openness differ significantly between the EAEU member states.

MFN Yes, MFN No?

“…During the first stage of integration, between 2000 and 2007, 53 The main objectives of this stage of integration were to increase trade between members, support economies, and provide a legal and institutional framework for member states. 54 The second step was to enlarge the sphere of member nations, and consequently to increase the trade and economic weight in the Eurasian region, as evidenced by the series of trade agreements that Russia has decided to achieve through the EAEU since its foundation to date: WTO data on RTAs signed since 1990 to the present suggest that out of its total fourteen (14) RTAs, Russia has been able to achieve six important milestones since 2015 without invoking MFN under the auspices of the EAEU (see Table 3). These FTAs helped Russia improve its position by (I) creating new markets for the supply of economic materials apart from Europe; (II) expanding hydrocarbon exports to new markets; (III) stimulating the growth of investments in the areas of communication and technological innovation; and (IV) expanding the Russian grain and agricultural market through new customers.…”