Development and prospects of the markets of the European-Asian Economic Union

DOI: 10.33917/mic-6.113.2023.5-13

The main markets under study, which continue to develop actively on mutually beneficial terms, are the markets of the countries of the European-Asian Economic Union (EAEU). Therefore, in the context of the refusal of the European Union (EU) countries from the work of European economic entities on the territory of the Russian Federation, the procurement of natural resources necessary for the needs of energy companies, the relevance of the formation of strategic goals, criteria for their achievement, the implementation of planned plans and specific ongoing activities in full, is an important task of governments in public management systems of all five countries of the union. To achieve the main strategic goal of the EAEU activity – to improve the standard of living of the population of the countries. It is necessary to ensure the joint development of three single markets: labor, goods and finance. The further successful solution of this problem is facilitated by the activities of the Single Customs Union, aimed at the almost unhindered movement of labor and goods within the borders of the Union countries. Such integration of the countries’ trade and economic activities makes it possible to significantly increase the trade turnover between the countries, attract labor resources, first of all, to the Russian Federation. However, there are also unresolved problems. For example, in order to strengthen the production and food integration of countries, it is necessary to introduce additional provisions into the mechanisms for regulating the export movement of goods. In order to carry out mutual attraction of finance in the form of investments on the territory of these countries, a single regulatory space is being created, which should include a standard.

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Overview of Economic and Trade Relations Between Kazakhstan and the European Union: Current Trends and Prospects

#3. Attraction of Diversity
Overview of Economic and Trade Relations Between Kazakhstan and the European Union: Current Trends and Prospects

The European Union (EU) and Kazakhstan have established close economic and trade relations much thanks to EU Strategy for Central Asia and Kazakh state program Path to Europe. Bilateral trade have been growing steadily since 2002. Today EU is Kazakhstan’s first trade partner with annual turnover of ,1 billion representing a half of the country total trade in 2016 and the largest investor, ahead of Russia and China. EU imports from Kazakhstan are dominated by energy (minerals, fuels) products. The main EU exports to Kazakhstan include machinery and transport equipment, other manufactured goods and chemicals. In 2015 Kazakhstan has joined WTO with the EU consistently supporting Kazakhstan’s accession. Over the past two decades, Kazakhstan and EU have developed a strong and mutually beneficial energy cooperation. Major EU-based energy companies have significant investments in the Kazakh oil and gas industry. Currently, around 70% of Kazakhstan oil exports go to Europe, corresponding to 6.5% of the EU total oil imports. The 2017-address by the President Nursultan Nazarbayev comprise an industrial strategy aimed at modernizing Kazakhstan’s economy by diversifying it away from overdependence on extractive industries, targeting R&D and joining the top 30 most developed countries by 2050. Therefore Enhanced Partnership and Cooperation Agreement signed in 2015 offers new opportunities for Kazakhstan and EU and could be interesting for partners in the Eurasian Economic Union.

On Socio-Economic Strategy of Qatar at the Beginning of the XXI Century

#5. Space Like a Punishment
On Socio-Economic Strategy of Qatar at the Beginning of the XXI Century

Emirate of Qatar, small in area and population, being a coastal state of the Persian Gulf, from year to year is demonstrating dynamic economic growth thanks to constantly growing income from hydrocarbon exports. According to experts of the British audit firm Ernst&Young and the Oxford Economics Institute, Qatar has topped the rating of the fastest growing markets in 2000-2010. The author particularly analyzes dynamics of the main socio-economic indicators of the country during the 2000s and also describes important provisions of the national government programs for medium and long-term periods. The study presents conclusions regarding the present situation and prospects of emirate’s economic development in the future.