LABYRINTS OF EURASIAN INTEGRATION: SEARCHING THE WAYS TO A SINGLE MARKET

Abstract

One of the main objectives of the EAEU is the formation of a single market for goods, services, capital and labor, leading to a comprehensive modernization, cooperation and increasing the competitiveness of economies. State regulation of market conditions of entrepreneurship should find points of growth of integration processes and introduce mechanisms for their effective development. Based on the example of economic interaction between Russia and Kazakhstan, analysis showed that the processes of nominal and institutional convergence are contradictory, the formation of a single market is unreasonably slow. In the past two years, integration progress has slowed, mutual trade of economic entities in Russia and Kazakhstan has declined. The initial effect of forming a single market, connected with the removal of barriers, has already exhausted itself. The next stage of integration development should envisage the transfer to the supranational level of a number of regulatory functions for the single market designed to stimulate the economic growth and modernization of the economies of the EAEU members.