Economic relations and trade - Analysis of the EU’s comparative advantages and Central Asian interests

Abstract

This paper assesses the implementation of the EU’s Central Asia policy and its perception in Central Asia since 2007. It analyses the EU’s economic and trade policies, as well as tangible outcomes in the relationship between the EU and Central Asian countries. It also compares the EU’s approach and results with other external powers in the region such as Russia, China and Turkey, and examines how the EU is perceived in Central Asia as an economic and trading partner. This paper concludes that for the EU and its member states to assist Central Asian countries in improving their economic development and regional stability, existing economic engagement must be maintained and built upon through tailor-made economic initiatives. In particular, the EU could continue to support small and medium enterprises, improve its explanations of EU trade and business regulations and increase awareness of the kind of trade agreements available to Central Asian countries. The EU could also further support Central Asian countries by providing technical and English language training, promoting good governance in business, assisting the countries with agricultural practices, as well as border management to facilitate cross-border trade.