Abstract:

In the presented paper it is noted that the development of common markets for goods and services is the basis for the EAEU countries integration. The study is based on hypothesis that the integration processes in the Eurasian space – the Eurasian Union, contributed to the stabilization of transformational processes, to the retaining of existing links and to the development of new trade and economic relations between the member countries both inside and outside the EAEU. Dynamics assessment of the development level of mutual and foreign trade in goods and services of the EAEU countries is made, an analysis of the structure of their mutual trade turnover has been carried out, which has shown that there is a significant potential for integration processes continuation in the region under study. The authors have proved that all the members of the EAEU have received certain benefits from the integration processes development: increase in mutual trade in goods and services within the Eurasian Union is observed, as well as economic tightness increasing, and it will further contribute to the development of both intersectoral and intrasectoral mutual cooperation in many economic areas within common markets formation. At the same time, a number of contradictions and problems have been identified that require solution and coordination of actions between the EAEU member countries in order to increase competitiveness and economic growth.