ECONOMIC VECTOR OF THE EURASIAN UNION: EVALUATION OF COUPLING POTENTIAL WITH REGIONAL INTEGRATION ASSOCIATIONS OF COUNTRIES

Abstract

The Eurasian Union plans to reach a new level of economic cooperation, and not be restricted to interact only with the individual member states. For this purpose, the Eurasian Union intends to initiate the establishment of a long-term and stable relationships with major integration associations in the world. The assessment analysis found the economic effects of possible cooperation of the Eurasian Union with megaregional structures and taking into account the applicability in the context of the prospects for the «Big Eurasian Partnership» the project shows that in working through various options for cooperation should be taken into account a variety of factors, ranging from issues of tariff regulation to foreign situations, concerning certain countries, integration associations. Priority for identifying potential partners for cooperation given to economic and trade associations with a high degree of costoriented integration. For assessment of the economic effects of a possible cooperation of the Eurasian Union with megaregional structures was used the gravity model to identify the sensitivity of imports to changes in tariff policy, and an analysis of the competitive advantages of production of the Eurasian Union countries was conducted with competitiveness index.