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Central Asian Integration and Its Impact on Regional Trade and Economy

In: Country Experiences in Economic Development, Management and Entrepreneurship

Author

Listed:
  • Bulat Mukhamediyev

    (Al-Farabi Kazakh National University)

  • Azimzhan Khitakhunov

    (Al-Farabi Kazakh National University)

Abstract

Central Asian region includes five Former Soviet Union republics such as Kazakhstan, Kyrgyz Republic, Tajikistan, Turkmenistan and Uzbekistan. All countries follow totally different national development strategies. While Kazakhstan and Kyrgyz Republic are outward looking and the most integrated to world economy, Turkmenistan and Uzbekistan keep isolationism policy. Since 1991 many Preferential Trade Agreements have been signed in Central Asia. However, the countries could cooperate in only a few areas. Majority of these agreements led to more conflicts and contradictions, which became the beginning of Central Asian disintegration. All countries of the region in their trade policies have largely followed the path of policy autonomy. Thus, this paper analyzes the impact of integration agreements on the regional trade and economy of Central Asia with the special focus on Kazakhstan. The paper also covers the analysis of possible impact of the newly created Eurasian Economic Union (EAEU) and the World Trade Organization (WTO) on Central Asian countries, taking into consideration that Kazakhstan and Kyrgyz Republic are the member countries of EAEU.

Suggested Citation

  • Bulat Mukhamediyev & Azimzhan Khitakhunov, 2017. "Central Asian Integration and Its Impact on Regional Trade and Economy," Eurasian Studies in Business and Economics, in: Mehmet Huseyin Bilgin & Hakan Danis & Ender Demir & Ugur Can (ed.), Country Experiences in Economic Development, Management and Entrepreneurship, pages 17-30, Springer.
    • Handle: RePEc:spr:eurchp:978-3-319-46319-3_2
    DOI: 10.1007/978-3-319-46319-3_2
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