EXECUTIVE SUMMARY
The Modern world is a world of intense rivalry. Countries with highly developed economies displace countries with less-developed ones in perspective global markets. In other words, the strongest displace the weakest. The chance to weaken a rival from being more competitive is to be a part of economic integration. Different level of economic integration can be distinguished, including preferential trade agreements (PTA), free trade areas (FTA), customs unions, common markets and economic and monetary unions. The more integrated the economies become, the fewer trade barriers exist. This leads to more economic and political coordination between the member countries. The Eurasian Economic Union (EAEU) is considered to be a deeper form of integration of the Customs Union of Belarus, Kazakhstan, and Russia. The original treaty establishing the Customs Union was annulled with the agreement to establish the Eurasian Economic Union. The EAEU was signed in 2014 and incorporated the Customs Union into the EEU's legal framework.
daria.bartsevich@cgsrs.org