AN ASSESSMENT OF INTEGRATION EFFECTS IN THE EURASIAN ECONOMIC UNION IN THE CONDITIONS OF GLOBAL CHALLENGES

This article considers the strategic directions of the Eurasian Economic Union member states’ economic development, based on available resources and objective opportunities for their joint effective use. With all the turbulence and uncertainty that exist today in the world economy, the definition of the main directions for the coordination of economic policies looks extremely important and timely. In general, by 2030, the results of the economic development of the EAEU have to show the world competitiveness of the integration association. The Eurasian trend of economic integration is developing in the context of strengthening global challenges. The first stage of creation of the EAEU was accompanied by a certain growth of mutual trade in goods and services, an increase in mutual investments, which was associated with the immediate effects of liberalization and unification of customs legislation. However, in the future these positive trends in mutual trade did not continue due to a number of reasons. First, in the most important economy of the EAEU, the Russian economy, a period of steady decline in economic growth rates began, which negatively affected the overall demand parameters in the EAEU countries. Secondly, the development of industrial cooperation did not receive the necessary impetus; on the contrary, there was a contraction in the volume of trade in intermediate products. Currency fluctuations unfavorable for mutual trade were noted. There were no financial institutions set up to implement complex projects throughout the EAEU and the process of accumulating mutual direct investments has slowed down.

integration, modernization, innovative development, foreign trade potential, competitiveness, economic growth, cooperation, infrastructure, интеграция, модернизация, инновационное развитие, внешнеторговый потенциал, конкурентоспособность, экономический рост, кооперация, инфраструктура, интеграция, жаңғырту, инновациялық даму, сыртқы сауда әлеуеті, бәсекеге қабілеттілігі, экономикалық өсу, кооперация, инфрақұрылым

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