The Eurasian Economic Union: Russia’s Integration Policy
In the wake of globalization, governments have started to see relative advantage in associating with other countries, and also possible negative consequences in staying outside preferential trade arrangements. Russia, Belarus, Kazakhstan, Armenia, and Kyrgyzstan formed the Eurasian Economic Union (EAEU) in order to create a single market. Armenia, Kyrgyzstan, and Kazakhstan all approximately doubled their average external tariffs, which were the Russian tariff, resulting in substantial transfers to Russia. Estimates show, however, that substantial progress in trade facilitation and reducing nontariff barriers could make the EAEU positive for all members. Moreover, the right to work for migrants or security arrangements with Russia may be the dominant issue for Armenia and the Kyrgyz Republic. So far, however, the EAEU has made little progress on reducing nontariff barriers or trade facilitation.
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