Cuban Trajectory of the Eurasian Economic Union: Regaining Positions

Abstract

In an era of a changing world order, the Cuban vector of the Eurasian Economic Union (EAEU) international activity is of particular academic interest. The subject of the research is current relations between the EAEU and the Republic of Cuba. The relevance of the study is determined by the growing attention to the Cuban vector in the EAEU foreign policy; the need for analyzing business opportunities, current trends and influencing factors. The research is based on the analysis of regulatory and legislative acts, official statistics; publicistic sources are also engaged. The study reveals significant imbalances in Eurasian-Cuban trade due to the overbalance of exports from the EAEU; the leading role of Russia and Belarus in the context of relations between the EAEU and Cuba is noted. The author analyzes current trends and traces prospects for interaction. The author uses a combination of general scientific theoretical and special methods; institutional and historical methods, as well as content analysis of official documents and statistics. Analyzing Eurasian-Cuban relations, the author emphasizes the growing role of geopolitical factors and value orientation over purely economic interests. It is noted that despite the potential of the relations is still great and it has not been realized yet, economic feasibility and a favorable policy framework encourage to increase cooperation in a short term. The political potential of the relations is being successfully converted into economic projects and challenges implementation. In concluding the author says that the multilateral format of interaction between the countries in the context of a global geopolitical crisis is an additional tool for hedging risks and one of the steps towards the state’s sustainable development.