Greater Eurasian partnership: economic perspectives of integration with the EAEU

Abstract

This article analyzes the current state and future prospects of integra- tion associations and formats of multilateral economic cooperation from the point of view of the implementation of the Comprehensive Eurasian Partnership initiative. The author analyzes the role of this initiative as an instrument of Russian politics and assesses its potential for strengthening international cooperation in Eurasia. In partic- ular, it analyzes the possibilities of harmonizing key projects and initiatives within the EAEU. The work examines the potential of the largest multilateral formats in Eurasia as in the economic sphere – the Comprehensive Regional Economic Partner- ship, the Belt and Road Initiative, the Eurasian Economic Union, etc. to multilateral economic projects in Eurasia as a locomotive for promoting strategic interests, as well as realizing the potential of the EAEU. It is concluded that institutional overload is observed in the economic sphere of Greater Eurasia, caused by the existence of a number of parallel developments of in- tegration initiatives and mechanisms of economic cooperation. Based on the forego- ing, the strengthening of the EAEU as the institutional core of Greater Eurasia can become the basis for the formation of a regulatory mega-space. However, the aggre- gate economic potential of the EAEU member states does not allow the Union to be the largest economic pole and a leading center for the development of multilateral in- stitutions in Greater Eurasia. It is assumed that the solution to this problem could be the development of the Comprehensive Eurasian Partnership towards the conjugation of the EAEU and RCEP – the largest format for developing rules for international economic interaction in Asia and formulating specific proposals for building a system of mutually beneficial relations between the largest players of Eurasia, in which all interested states will be involved on mutually beneficial terms to strengthen interna- tional cooperation.