Eurasian Union will be economic not political block

2015 ◽  
Keyword(s):  
Political Influence ◽  
Customs Union ◽  
The West ◽  
Single Currency ◽  
Content Type ◽  
Eurasian Economic Union ◽  
Economic Slowdown ◽  
Free Movement Of Goods ◽  
Economic Union ◽  
Capital Services

Subject Russia and the Eurasian Economic Union Significance The Eurasian Economic Union (EEU) came into effect in January 2015, replacing a customs union. The EEU is an attempt to integrate the economies of Armenia, Belarus, Kazakhstan and Russia -- with Kyrgyzstan set to join in May -- into a single market of 175 million people with a combined GDP of 2.4 trillion dollars. Supranational and intergovernmental institutions are intended to ensure the free movement of goods, capital, services and people within the union, which also foresees common transport, agriculture and energy policies, a single currency, and closer future integration. Impacts Following Crimea's annexation, the EEU is increasingly seen by skeptics as a Russian attempt to grow its political influence in Eurasia. Kazakhstan will continue to develop strong relations with China and the West despite being an EEU member. Russia's economic slowdown may have serious consequences for remittance payments back to other EEU member countries.

Prospects for Russia/CIS in the third quarter

2015 ◽  
Keyword(s):  
Central Asia ◽  
Economic Situation ◽  
Breaking Point ◽  
Regional Economies ◽  
The West ◽  
Content Type ◽  
The Third ◽  
Eurasian Economic Union ◽  
Economic Union

Subject Prospects for Russia/CIS in the third quarter. Significance The third quarter could see a significant worsening of Russia's ties with the West. With the Donbas crisis threatening to erupt into open war as in 2014 and early 2015, the Minsk 2.0 process is strained to breaking-point. Recent months have seen the gradual deterioration of the February peace plan, with heavier skirmishing culminating in the recent battle for Maryinka. In Ukraine, the economic situation remains a major problem. In Central Asia, regional economies are suffering from Russia's slowdown, as some strengthen their integration with Russia as part of the Eurasian Economic Union (EEU).

Tajikistan will try to balance Russia and China

2015 ◽  
Keyword(s):  
At Risk ◽  
Central Asia ◽  
Economic Benefits ◽  
The West ◽  
Content Type ◽  
Eurasian Economic Union ◽  
Important Relationship ◽  
Silk Road Economic Belt ◽  
Economic Union ◽  
Ukraine Crisis

Subject Tajikistan's options for joining Russian-led Eurasian Economic Union. Significance Russia hopes that the Eurasian Economic Union (EEU), which came into force on January 1, will include Tajikistan. The EEU currently comprises Russia, Belarus, Kazakhstan and Armenia, with Kyrgyzstan set to join in May. Moscow is eager to pursue expansion of the EEU as its relations with the West deteriorate as a result of the Ukraine crisis. Russia is also believed to be seeking to put a check on China, whose 'silk road economic belt' will see billions of dollars invested in Central Asia. However, the economic benefits of EEU membership for Tajikistan are debatable and could put at risk its increasingly important relationship with China. Impacts EEU membership risks continuing a trend of significant numbers of Tajikistanis being dependent on working in Russia. EEU success will depend on the extent to which Russia is able to act as a destination for merchandise exports. As Russia's economy slows, the prospect of hundreds of thousands of Tajikistani workers returning home will rise, as will instability risk.

WTO accession will bring slow benefits for Kazakhstan

2015 ◽  
Keyword(s):  
Economic Integration ◽  
Consumer Choice ◽  
Service Sector ◽  
Council Meeting ◽  
Global Integration ◽  
Content Type ◽  
Eurasian Economic Union ◽  
Economic Slowdown ◽  
Economic Union ◽  
Near Term

Subject Kazakhstan's WTO membership. Significance Following almost two decades of negotiations, WTO members adopted Kazakhstan's terms of entry at the General Council meeting on July 27. Economic Integration Minister Zhanar Aitzhanova hailed it as an historic achievement for his country. Kazakhstan will become the tenth post-Soviet state to join the WTO, following Russian accession in 2012. Kazakhstan is also a member with Russia and Belarus of the Eurasian Economic Union (EEU), which recently enlarged to include Armenia and Kyrgyzstan. Impacts WTO membership is an important step towards Kazakhstan's future economic liberalisation and global integration. Economic slowdown in both Russia and China will curtail the benefits of WTO membership in the near term. Liberalisation of the service sector will add to consumer choice.

New laws pose threat to Kyrgyzstan's civil society

2015 ◽  
Keyword(s):  
United States ◽  
Human Rights ◽  
Civil Society ◽  
The United States ◽  
The West ◽  
Content Type ◽  
Political Activities ◽  
Civil Society Organisations ◽  
Eurasian Economic Union ◽  
Economic Union

Significance The dispute between the United States and Kyrgyzstan revolves around Washington giving imprisoned activist Azimjon Askarov the Human Rights Defender Award in 2014. As Bishkek moves closer to Russia through its membership in the Eurasian Economic Union (EEU), Kyrgyzstan's civil society is under threat. Impacts Harassment, intimidation and attacks on civil society organisations will become more pervasive. A focus on NGOs which receive foreign funding and engage in vaguely defined political activities and on LGBT groups is increasing. Relations between Kyrgyzstan and the West will be increasingly strained.

Nuclear deal will give Iran-Russia ties limited boost

2015 ◽  
Keyword(s):  
Oil And Gas ◽  
The United States ◽  
Global Markets ◽  
Islamic Republic ◽  
The West ◽  
Content Type ◽  
High Profile ◽  
Eurasian Economic Union ◽  
Economic Union ◽  
Economic Ties

Significance Russia played a high-profile role mediating the landmark Iran nuclear agreement announced on July 14. As such, the deal represents a diplomatic victory for Russia and its aim of preventing Iran from acquiring nuclear weapons. The deal also offers the prospect of increased opportunities for Russian business, and for Russian diplomacy in the Middle East, particularly Syria. However, the agreement also raises concerns in Moscow that Iran's detente with the West will weaken Russia's political and economic ties with the Islamic Republic, and see Moscow lose a valuable ally in its stand-off with Washington. Impacts Russia will try to strengthen cooperation with Iran within the Eurasian Economic Union framework. Potential for cooperation in oil and gas will be limited, although Moscow will try to coordinate energy policies with Tehran. Return of Iranian crude to global markets will dampen prices further, increasing Moscow's economic woes. Russia will use promised delivery of air defence systems to Iran as a bargaining chip in its stand-off with the United States.

Armenia's EU deal keeps options open and Russia happy

2017 ◽  
Keyword(s):  
The West ◽  
Political Will ◽  
Association Agreement ◽  
Content Type ◽  
Eurasian Economic Union ◽  
International Standing ◽  
Economic Union ◽  
The Eu

Significance The agreement is designed to fall short of a full EU association agreement because Armenia remains in the Russia-led Eurasian Economic Union (EEU). All parties say they are comfortable with the arrangement. Armenia is the only EEU member to obtain such a partnership deal with the EU. Impacts Armenia has a chance to rebuild its international standing, compromised after its U-turn in 2013. The deal will test the Armenian government's political will to reform. Moscow may try to showcase the deal as a sign of willingness to compromise with the West.

Eurasian Economic Union: A sober look

2016 ◽  
pp. 43-60 ◽  
Author(s):  
E. Vinokurov
Keyword(s):  
The State ◽  
Customs Union ◽  
Macroeconomic Policies ◽  
Member States ◽  
Goods And Services ◽  
Eurasian Economic Union ◽  
Ongoing Work ◽  
General Rules ◽  
Economic Union ◽  
Trade And Investment

The paper appraises current progress in establishing the Customs Union and the Eurasian Economic Union (EAEU). Although the progress has slowed down after the initial rapid advancement, the Union is better viewed not as an exception from the general rules of regional economic integration but rather as one of the functioning customs unions with its successes and stumbling blocs. The paper reviews the state of Eurasian institutions, the establishment of the single market of goods and services, the situation with mutual trade and investment flows among the member states, the ongoing work on the liquidation/unification of non-tariff barriers, the problems of the efficient coordination of macroeconomic policies, progress towards establishing an EAEU network of free trade areas with partners around the world, the state of the common labor market, and the dynamics of public opinion on Eurasian integration in the five member states.

Higher tax to replace Russia's metal export duty

2021 ◽  
Keyword(s):  
Income Tax ◽  
Corporate Income Tax ◽  
Content Type ◽  
Export Duty ◽  
Eurasian Economic Union ◽  
Domestic Prices ◽  
Economic Union ◽  
The Government

Significance Officials are trying to correct high domestic prices which they see as unjustified, and to claw back what they regard as excessive profits earned by metals companies. Impacts Export duties could exert upward pressure on global prices of steel, nickel and aluminium. Exports to the Eurasian Economic Union are exempt, so the government will need a failsafe system to prevent re-exports to third countries. The export duties will reduce the corporate income tax earned by metal-producing regions.

Corporate governance codes of Eurasian Economic Union countries: a comparative investigation

2017 ◽  
Vol 17 (4) ◽  
pp. 748-769 ◽  
Author(s):  
Mirgul Nizaeva ◽  
Ali Uyar
Keyword(s):  
Corporate Governance ◽  
Best Practices ◽  
Transition Countries ◽  
Special Focus ◽  
Content Type ◽  
Eurasian Economic Union ◽  
Oecd Principles ◽  
Corporate Governance Codes ◽  
Economic Union ◽  
The Uk

Purpose The purpose of this paper is to comparatively analyze the corporate governance codes of transition economies, particularly five Eurasian Economic Union (EAEU) members (i.e. Russia, Belarus, Kazakhstan, Kyrgyzstan and Armenia). Specifically, the convergence or divergence of these countries’ corporate governance codes among themselves as well as relative to the best practices of the UK Corporate Governance Code (UK Code) and the OECD Principles of Corporate Governance are investigated. Design/methodology/approach Initially, the existing literature on corporate governance with special focus on transition countries is reviewed. Afterwards, benchmarking the international best practices, based on main chapters and contents, the corporate governance codes of all countries in the sample are analyzed. Findings The paper finds that even though some principles of the corporate governance codes of the countries in the sample differ in some aspects, they do converge to some extent. However, high misalignments between the UK Code and the OECD Principles and the codes of selected countries in some aspects were found. Research limitations/implications The conclusion and implications of the study characterize the corporate governance of selected developing countries; thus, they might not be generalizable to other countries. Practical implications The codes of the countries in the sample should be revised, and more specifications regarding the stakeholder, board structure, its subcommittees, independence, diversity and transparency issues need to be addressed. Originality/value The paper comprehensively analyzes the contents of corporate governance codes of transition countries; from both practical and academic point of view, it was important gap that needed to be fulfilled.

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