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Trade Competition Between Asia and the European Union in Africa Read chapter Read first chapter

2017 | OriginalPaper | Chapter

Central Asian Integration and Its Impact on Regional Trade and Economy

Authors : Bulat Mukhamediyev, Azimzhan Khitakhunov

Published in: Country Experiences in Economic Development, Management and Entrepreneurship

Publisher: Springer International Publishing

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Abstract

Central Asian region includes five Former Soviet Union republics such as Kazakhstan, Kyrgyz Republic, Tajikistan, Turkmenistan and Uzbekistan. All countries follow totally different national development strategies. While Kazakhstan and Kyrgyz Republic are outward looking and the most integrated to world economy, Turkmenistan and Uzbekistan keep isolationism policy. Since 1991 many Preferential Trade Agreements have been signed in Central Asia. However, the countries could cooperate in only a few areas. Majority of these agreements led to more conflicts and contradictions, which became the beginning of Central Asian disintegration. All countries of the region in their trade policies have largely followed the path of policy autonomy. Thus, this paper analyzes the impact of integration agreements on the regional trade and economy of Central Asia with the special focus on Kazakhstan. The paper also covers the analysis of possible impact of the newly created Eurasian Economic Union (EAEU) and the World Trade Organization (WTO) on Central Asian countries, taking into consideration that Kazakhstan and Kyrgyz Republic are the member countries of EAEU.

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previous chapter Trade Competition Between Asia and the European Union in Africa
next chapter ASEAN and Trade Regionalism: An Opportunity for Convergence or Threat of “Two Speeds”?
Footnotes
1
World Bank (2015) forecasts that Kazakhstan will achieve economic growth at 2.8 % in 2016 and 3.9 % in 2017 if oil prices fluctuate from 57 to 61 USD per barrel.
 
2
Despite the idea of the Eurasian Union was proposed by the president of Kazakhstan, the EAEU is recognized as the Russia-led integration. Internal conflicts within CA, different strategies of development and competition between Kazakhstan and Uzbekistan made the CA integration hardly possible. Thus, Great Powers such as Russia with the EAEU or China with the Shanghai Cooperation Organization (SCO) push the region for further integration and cooperation. China-led SCO is not an economic integration. Its major goal is tackling the three evil forces such as extremism, international terrorism and separatism. Despite this, China uses the SCO as an umbrella organization, within which it would pursue bilateral economic relations with the Central Asian countries.
 
3
CAREC program estimated a probability of unofficial payments. Results of the estimation show that 1189 and 94 unofficial payments were made at the border crossing and non-border crossing points respectively. Therefore, the chance of encountering demand for a bribe was equal to 32 %.
 
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Metadata
Title
Central Asian Integration and Its Impact on Regional Trade and Economy
Authors
Bulat Mukhamediyev
Azimzhan Khitakhunov
Copyright Year
2017
Book
Country Experiences in Economic Development, Management and Entrepreneurship

Print ISBN: 978-3-319-46318-6

Electronic ISBN: 978-3-319-46319-3

Copyright Year: 2017

DOI
https://doi.org/10.1007/978-3-319-46319-3_2