Pairing the EU and the SREB: problems and prospects for development

Abstract

Since 2014, many experts, politicians and diplomats have been discussing the possibility of politically and economically effectively linking the Eurasian Economic Union and the Chinese Silk Road Economic Belt initiative. The initiative to create the Silk Road Economic Belt implies the creation of a large international economic niche in Eurasia, where it will be possible to invest practically all projectsplanned in foreign policy and foreign economic spheres. In addition, the SREB initiative implies the constructionof a symbiotic system in the Eurasian space, characterized by a free structure, high inclusivity, its main principle is «partnership without an alliance». There is a very active discussion of the possibilities of even wider integration and the construction of a «Greater Eurasia» or economic partnership based on a set of integration processes and various forms of trade and economic, as well as transport and energy cooperation between the EAEU, PRC, ASEAN, EU and other leading economic associationsin the Eurasian space. At the same time, when Kazakhstan is at the stage of political transformation, today the republic is located between the two most economically powerful centers of the continent – the European Union and the People’s Republic of China. Each of them significantly exceeds the Eurasian Economic Union interms of aggregate economic power. This situation prompts Russia to position the EAEU as an «effective link between Europe and the dynamic Asia-Pacific region». In this regard, this article sets the goal of disclosing the conjugations of two promising and economically ambitious «unions» that can fundamentally affect the further economic growth of the state. And also do an analysis of the problems and development prospects of both the EAEU and the SREB.Key words: Kazakhstan, EU, Silk Road, economic conjugation, development prospects.