ADVANTAGES AND CHALLENGES OF GOODS AND SERVICES MARKETS INTEGRATING OF THE EAEU СOUNTRIES

The research of integration development processes within the framework of the EAEU in the current conditions of general slowdown in global economic growth, decrease in production rates, unfavorable conditions in certain market segments, and energy price volatility seems to be an urgent task. The basis for the integration of the EAEU member countries is the formation of common markets for goods and services, the development degree of which in many respects depends on the strategic direction of further deepening and expanding of their mutual cooperation, national competitiveness increasing, as well as the success of integration into the global trade and economic architecture. The purpose of the study is to analyze the current stage of mutual trade of the Eurasian Union member countries and to determine the main advantages of development of goods and services common markets. The study is based on the hypothesis that the integration processes in the Eurasian space development promote stabilization of the transformation processes, preserve old and develop new trade and economic relations between the member countries of the Eurasian Union. General scientific methods of analysis, logical generalization and comparison were used to characterize the dynamics of mutual trade of the EAEU countries, to identify existing problems in its development, to determine the integration benefits of the EAEU countries from the common markets’ development, taking into account the national interests of each country. In the course of the study, the authors have presented the arguments that all the EAEU member countries received certain advantages from the integration processes development: there is an increase in mutual trade in goods and services within the Eurasian Union, the tightness of economic ties that will contribute to the development of both inter-industry and intra-industry mutual cooperation in many economic areas within the framework of emerging common markets. At the same time, a number of contradictions and problems have been identified that require solution and coordination of actions between the countries of the Eurasian Union in order to achieve future economic growth and competitiveness increase.

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