Prospects for the Regional Cooperation in Central Asia

Nurlan Aitkaliuly Nurseiit

doi:10.17015/ejbe.2020.026.01

Nurlan Aitkaliuly Nurseiit

Open Access

https://doi.org/10.17015/ejbe.2020.026.01

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Abstract

The purpose of the article is to study the regional cooperation of the countries of Central Asia (CA) among themselves and with other regions, as well as finding ways to improve it. The study revealed that regional cooperation is still at a low level. Significant trading partners of Central Asia are currently the EU, China, Russia, and Turkey. The participation of the countries of the region in the Eurasian Economic Union (EAEU) and the Chinese "Belt and Road" initiative (BRI) did not lead to the expected results. The observed decline in trade in Central Asia is associated mainly with a decline in world prices for raw materials and not a change in physical volumes.

Highlights

Regional cooperation in Central Asia (CA) is at a low level
The following hypotheses are tested in this paper: 1) the level of mutual trade in CA is low; 2) China, Russia, EU, Turkey, and Iran are important trading partners for the countries of CA; 3) Initiated by Russia, the Eurasian Economic Union (EAEU) and the Chinese BRI well contribute to the growth of mutual trade in CA; 4) CA is an important trading partner for China, Russia, Turkey, and Iran; 5) the fall in the value of exports of CA is due to the decline in world prices for raw materials, not volumes
The first hypothesis regarding the low level of mutual trade between the countries of CA has been confirmed

Summary

Introduction

Regional cooperation in Central Asia (CA) is at a low level. It has basically the form of bilateral agreements between the countries of the region. The countries of the region are much more actively cooperating with countries outside the region than among themselves This is due to the fact that the region is interesting for the leading world and regional powers of the world, such as the USA, EU, China, Russia, Iran, India, and Pakistan, in terms of the availability of rich natural resources, primarily energy, as well as a unique geopolitical position in the centre of Eurasia (Gussarova, Aminjonov, & Khon, 2017; Kang Peng, Zhu, & Pan, 2018). For this reason, these powers trade with the countries of the region and invest in its development. It identifies the ways to enhance cooperation between the countries of the region

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Conclusion