Analysis Of Eurasian Union And Its Perspective For Future And Challenges (Coursework Sample)

Comment Paper- Danilo Hinic
In this comment I want analyze problematic and questionable issue of future of Eurasian Union. Through this text are examined history and basic trends in creation of customs union and common tariff system and trends in benefits. But question about further integration, future development and effectiveness of this organization remains unanswered and this text didn’t seemed very optimistic about future in further development of ECU because text was written before latest trends which occurred in 2014. We can see that organization has economic character mainly. So problematic issue is about further integration and effectiveness of this union because Eurasian Union is still in process of transition and changes are ongoing and unclear future of emerging organizations always exists. If I literally ask a question “Does Eurasian Union have promising future?” 1) When we speak about concept of integration, integration trends, intentions to cooperate and potential for enlargement future seems positive. Integration of troika economies goes deeper because in May 2014 Russia, Kazakhstan and Belarus agreed on establishing common market and Eurasian Economic Union which will enter into force in 2015. It is an important step which shows that integration continues on larger scale and that these 3 states want more decisively to integrate economies. There should be emphasized that also exists Eurasian Development Bank which means that there are supposed to be common economic projects and Eurasian Economic Commission which is supposed to represent interests of all 3 members. (Dreyer, 2014). This integration is driven by aims of Eurasian troika to create a block which can stand towards EU and make cooperation with EU on higher level and hoping that common free trade zone will bring more benefit than separate agreements with EU. In DW( 2014) magazine is stated that potential candidates can be Armenia and Kyrgyzstan. Therefore even exists possibility for future enlargement. Except this promising indicators and trends which potentially show prosperous future of new union there are also less promising indicators which are related to functioning of Eurasian Union in practice. 2) When it goes about effectiveness of functioning and applying rules of this union future seems much less positive because of economic and political barriers which exist. Many questions remain which are challenging survival of success of Eurasian Union. First one is about problem with doing businesses and since establishment of common internal duties they had difficulties in establishing trade beyond borders of union. Question remains if these 3 still developing economies can finance stand integration as they aren’t sufficiently economically strong and stable. Barriers in functioning of new union can be protectionist policies among these states and partially different foreign policies.
As a conclusion I want to say that this union as a concept in transition and a...