Advertisement

Common Markets Within the Eurasian Economic Union: Movement of Goods, Services, Labour, and Capital

  • Evgeny Vinokurov
Chapter

Abstract

Central to the book, this chapter describes different facets of the EAEU common markets, their progress, and various constraints. We do this to establish a balanced view of Eurasian integration’s relative successes and failures. First, we analyse the Customs Union (CU) by itself, with particular attention given to the dynamics of single customs tariffs. Second, we provide detailed information on the Eurasian Union’s mutual and external trade. Third, we describe the progress made on the common markets’ “road map”, which envisages additional common markets for pharmaceuticals and medical equipment (2017), electric power (2019), financial markets (2022–2025), and oil and gas (2024–2025). Fourth, we provide a detailed picture of the state of affairs concerning non-tariff barriers. We illustrate both progress and substantial headwinds as concerns their elimination/unification. Here we also explain progress on technical regulation. Fifth, a long paragraph delves into the common labour market, including the dynamics of labour migrants and remittances, legal framework for the common labour market, and issue of pension mobility. Sixth, we provide an abundance of data on mutual investment in the EAEU and beyond Eurasia in general. Finally, we present a discourse on the coordination of macroeconomics and monetary policies.

References

  1. Aliev, S. (2016). Labour Migration and Social Security for Workers in the Eurasian Economic Union. Moscow: Eurasian Economic Commission. Available at: http://www.eurasiancommission.org/ru/Documents/spreads.pdf.
  2. Alpysbaeva, S., Kenzhebulat, M., Kamzin, A., Kaskeev, S. (2015). Structural Changes in the Mutual Trade of Kazakhstan and Russia in Conditions of External Shocks and Differences in Monetary Policy. Eurasian Economic Integration, 2 (27), pp. 41–51. Available at: https://eabr.org/upload/iblock/c1e/eei_2_2015_alpysbayeva_etc.pdf.
  3. Central Bank of the Russian Federation (CBR) (2017). Cross-Border Transfers of Individuals (Residents and Nonresidents). Available at: http://www.cbr.ru/eng/statistics/Default.aspx?Prtid=tg.
  4. CIS Statistical Committee (2016a). Basic Socioeconomic Indicators of Poverty in CIS Countries. Database “Statistics of the CIS”. Available at: http://www.cisstat.com/2base/frame00.htm.
  5. CIS Statistical Committee (2016b). The Labour Market in the Commonwealth Countries in 2015. Database “Statistics of the CIS”. Available at: http://www.cisstat.com/2base/frame00.htm.
  6. CIS Statistical Committee (2016c). The Socioeconomic Situation of the Countries of the Commonwealth of Independent States in 2016. Database “Statistics of the CIS”. Available at: http://www.cisstat.com/2base/frame00.htm.
  7. Demidenko, M., Korshunov, D., Karachun, O., Miksyuk, A., Pelipas, I., Tochitskaya, I., Shimanovich, G. (2017). Monetary Policy of EAEU Member States: Current Status and Coordination Prospects. Joint Report of the Eurasian Economic Commission and Eurasian Development Bank. Moscow: EEC; Saint Petersburg: Eurasian Development Bank. Available at: https://eabr.org/en/analytics/integration-research/cii-reports/monetary-policy-of-eaeu-member-states-current-status-and-coordination-prospects/.
  8. Denisenko, M. and Chernina, E. (2017). Labour Migration and Earnings of Migrants in Russia. Voprosy Ekonomiki, 3, pp. 40–57.Google Scholar
  9. EDB Centre for Integration Studies (2013). Labour Migration and Human Capital of Kyrgyzstan: Impact of the Customs Union. Report No. 13. Saint Petersburg: Eurasian Development Bank. Available at: https://eabr.org/en/analytics/integration-research/cii-reports/labour-migration-and-human-capital-of-kyrgyzstan-impact-of-the-customs-union/.
  10. EDB Centre for Integration Studies (2015a). Assessing the Impact of Non-Tariff Barriers in the EEU: Results of Enterprise Surveys. Report No. 30. Saint Petersburg: Eurasian Development Bank. Available at: https://eabr.org/en/analytics/integration-research/cii-reports/assessing-the-impact-of-non-tariff-barriers-in-the-eeu-results-of-enterprise-surveys/.
  11. EDB Centre for Integration Studies (2015b). Estimating the Economic Effects of Reducing Non-Tariff Barriers in the EEU. Report No. 29. Saint Petersburg: Eurasian Development Bank. Available at: https://eabr.org/en/analytics/integration-research/cii-reports/estimating-the-economic-effects-of-reducing-non-tariff-barriers-in-the-eeu/.
  12. EDB Centre for Integration Studies (2015c). Labour Migration and Labour-Intensive Industries in Kyrgyzstan and Tajikistan: Possibilities for Human Development in Central Asia. Report No. 31. Saint Petersburg: Eurasian Development Bank. Available at: https://eabr.org/en/analytics/integration-research/cii-reports/labour-migration-and-labour-intensive-industries-in-kyrgyzstan-and-tajikistan-possibilities-for-huma/.
  13. EDB Centre for Integration Studies (2015d). Monitoring of Mutual Investments in CIS Countries — 2015. Report No. 32. Saint Petersburg: Eurasian Development Bank. Available at: https://eabr.org/en/analytics/integration-research/cii-reports/monitoring-of-mutual-investments-in-cis-countries-2015/.
  14. EDB Centre for Integration Studies (2016a). EDB Integration Barometer – 2016 (Fifth Wave of the Survey). Report No. 40. Saint Petersburg: Eurasian Development Bank. Available at: https://eabr.org/en/analytics/integration-research/cii-reports/integratsionnyy-barometr-eabr-2016/.Google Scholar
  15. EDB Centre for Integration Studies (2016b). Monitoring of Mutual Investments in CIS Countries 2016. Report No. 39. Saint Petersburg: Eurasian Development Bank. Available at: https://eabr.org/en/analytics/integration-research/cii-reports/monitoring-of-mutual-investments-in-cis-countries-2016/.
  16. EDB Centre for Integration Studies (2017a). Eurasian Economic Integration – 2017. Report No. 43. Saint Petersburg: Eurasian Development Bank. Available at: https://eabr.org/en/analytics/integration-research/cii-reports/eurasian-economic-integration-2017/.
  17. EDB Centre for Integration Studies (2017b). Monitoring of Mutual Investments in CIS Countries 2017. Report No. 45. Saint Petersburg: Eurasian Development Bank. Available at: https://eabr.org/en/analytics/integration-research/cii-reports/monitoring-of-mutual-investments-in-cis-countries-2017/.
  18. Edovina, T. (2017). We must pay for the opening of partner countries’ markets by lowering duties. EEC Minister in charge of Trade Veronika Nikishina on plans to expand free trade. Kommersant, February 10. Available at: http://www.kommersant.ru/doc/3214431.Google Scholar
  19. Eurasian Economic Commission (EEC) (2016a) A package of documents on the launch of the EAEU’s common pharmaceutical market was signed. November 16. Available at: http://www.eurasiancommission.org/en/nae/news/Pages/16-11-2016-5.aspx.
  20. Eurasian Economic Commission (EEC) (2016b). On the Labour Market in the Eurasian Economic Union. 2015. Analytical review October 31. Available at: http://www.eurasiancommission.org/ru/act/integr_i_makroec/dep_stat/econstat/Documents/labourmarket_2015.pdf.
  21. Eurasian Economic Commission (EEC) (2016c). The Board of the Commission approves a draft of the Agreement on Pension Provision for Workers of EAEU Member States. December 20. Available at: http://www.eurasiancommission.org/ru/nae/news/Pages/20-12-2016-4.aspx.
  22. Eurasian Economic Commission (EEC) (2017a). Outcomes of the EEC Council: the EAEU new Customs Code will enter into force on January 1, 2018. April 28. Available at: http://www.eurasiancommission.org/en/nae/news/Pages/28-04-2017-3.aspx.
  23. Eurasian Economic Commission (EEC) (2017b). The Eurasian Economic Union in Figures: Brief Statistical Compilation. Moscow: EEC. Available at: http://www.eurasiancommission.org/ru/act/integr_i_makroec/dep_stat/econstat/Documents/Brief_Statistics_Yearbook_2017.pdf.
  24. Golovnin, M. (2010). Interaction of Financial Systems of the CIS Countries. Saint Petersburg: Aletheia.Google Scholar
  25. Heifetz, B. (2011). Russian Business in EurAsEC Countries: The Modernization Factor. Moscow: Ekonomika.Google Scholar
  26. Kuznetsov, A. (2014). Russian Direct Investment as a Factor of Eurasian Integration. Voprosy Ekonomiki, 8, pp. 58–69.Google Scholar
  27. Ministry of Internal Affairs of the Russian Federation (Ministry of Internal Affairs of Russia) (2017). Statistical Information on the Migration Situation in the Russian Federation for 12 months of 2016 with a Breakdown by Countries and Regions. January 30. Available at: https://xn--b1aew.xn--p1ai/Deljatelnost/statistics/migracionnaya/item/9359228/.
  28. Mishina, V. and Khomyakova, L. (2014). The Integrated Currency Market of the Eurasian Economic Area and Calculations in National Currencies: Myths or Reality? Vorposy Ekonomiki, 8, pp. 41–57.Google Scholar
  29. National legal Internet portal of the Republic of Belarus (2016). Decree No. 499 of the President of the Republic of Belarus of 28 December 2016 “On the Draft of the International Treaty”. December 31, 1/16815. Available at: http://www.pravo.by/document/?guid=12551&p0=P31600499&p1=1.
  30. News Agency Sputnik (2017). Aramian: Privileges with regard to Goods from EAEU Countries can be Revoked. February 6. Available at: https://ru.armeniasputnik.am/armenia/20170206/6305003/aramyan-privilegii-v-otnoshenii-tovarov-iz-eaes-mogut-bit-otmeneni.html.
  31. Vinokurov, E., Demidenko, M., Korshunov, D. (2017). Potential Costs and Benefits of Monetary Integration in the Eurasian Economic Union. Voprosy Ekonomiki, 2, pp. 75–96.Google Scholar
  32. World Bank Group (2016). Migration and Remittances: Recent Developments and Outlook. Migration and Development Brief 26, April. Available at: http://pubdocs.worldbank.org/en/661301460400427908/MigrationandDevelopmentBrief26.pdf.

Copyright information

© The Author(s) 2018

Authors and Affiliations

  • Evgeny Vinokurov
    • 1
  1. 1.Eurasian Development BankSt PetersburgRussia

Personalised recommendations