Title: The current sustainability and future of the Eurasian Economic Union

Authors: Nurlan Aitkaliuly Nurseiit

Addresses: Faculty of Economics and Business, Kazakh-German University, Pushkin Street 111, Almaty, 050010, Kazakhstan

Abstract: Purpose: The purpose of this paper is to study the current situation and prospects for the future of the Eurasian Economic Union (EAEU) since its total trade turnover decreased by 25.8% between 2014 and 2020. Design methodology/approach: The assessment of foreign trade in the EAEU countries was based on an analysis of its overall dynamics and structure for 2015-2020. To assess the stability and success of the union, the method of calculation of the nominal and real convergence was used. Findings: Only new members of the EAEU show a clear trend towards nominal and real convergence, but not old ones. The process of divergence began to manifest itself earlier than in the EU, mainly for political reasons. Practical implications: Revealing the nature of the EAEU helps to predict its development in the future. Originality: This study contributes to understanding the sustainability of development and the future of the EAEU.

Keywords: EAEU; Eurasian Economic Union; international trade; sustainability; convergence; divergence.

DOI: 10.1504/IJTGM.2024.137727

International Journal of Trade and Global Markets, 2024 Vol.19 No.2, pp.148 - 173

Accepted: 24 Mar 2022
Published online: 04 Apr 2024 *

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