PROSPECTS FOR EAEU EXPANSION AND DEVELOPMENT

Dzhantaleeva Madina Sh.

10.54398/1818-510X_2022_1_91

Annotation

The subject of the article is the analysis of the prospects for the expansion and development of the Eurasian Economic Union. The article analyzes the advantages of membership in the Union for its members, as well as special attention is paid to external problems and the main internal factors influencing the pace of integration construction within the EAEU. Deepening cooperation within the EAEU is not only a prospect for the development of the socio-economic sector of the economy, but also a chance to preserve the national sover-eignty of the participating countries. The well-established mechanism of actions of the supranational bodies of the EAEU, the implementation of the planned initiatives (formation of a single hydrocarbon market, etc.), as well as planning the solution of cultural and social issues while maintaining the multi-vector policy of the member states of the Union is the most favorable development scenario for this integration association. International realities are that development of the Union will take place in the world where the process of globalization has begun to take on a decentralizing character with subsequent negative scenarios of both political and economic instability in the world. At the same time, the EAEU has a huge development potential, as well as the opportunity to become a center of power in the Eurasian space. Wise implementation of the agreements on the converging with the Chinese megaproject provides additional economic and geopolitical resources for the development of the Union. To do this, EAEU member states should not be only limited to their transit and logistics capabilities. It is important to understand that the attributed political goals are not relevant for this integration association at this stage of development. The EAEU strives to solve economic problems in order to deepen and expand mutually beneficial cooperation to improve the welfare of the citizens of the Union.

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