International legal aspects of the Eurasian Economic Union Foreign Trade Policy

Abstract

INTRODUCTION. The Eurasian economic union (EAEU) institutions have a huge competence delegated by the EAEU Member-States. Effective implementation of such competence, especially in foreign trade, entails relevant international activity of the EAEU institutions. In this connection the article analyses international capability of the EAEU, relevant experience of the European Union as well as actual status and perspectives of the EAEU international activity in foreign trade.MATERIALS AND METHODS. The research is based on the analysis of the EAEU legislation, recent works of relevant researchers, experience of the European Union in respect of international cooperation. Methodological instruments are analysis, synthesis, deduction, induction and analogy.RESEARCH RESULTS. Successful development of foreign trade activity of the EAEU Member-States depends on effectiveness of the EAEU international activity. The research shows that EAEU international activity in foreign trade is not as effective as it could be. This has a negative impact on foreign market accessibility for the EAEU Member-States goods. In view of the above a thorough research of appropriate EU legal base was conducted. It shows, that effectiveness of the EU in promotion of its interests on the international stage, including in the foreign trade, is based on relevant legal mechanisms, which allows to take into account both positions of the EU and its Member-States. Such experience with combination of the specific characters of Eurasian integration will help to make necessary amendments to the EAEU legal base to increase its effectiveness.DISCUSSION AND CONLUSIONS. The author makes conclusion on the necessity of amendments to the EAEU international activity legal base, with use of the researched European Union experience. In particular, the EAEU institutions need additional competence for more independence and flexibility at international level. This will improve the EAEU international activity, including conclusion of free trade agreements (regardless of concluded agreements of the EAEU, the scale of international activity of the EAEU is not comparable with the European Union’s one), create conditions for export promotion, and help to strengthen the EAEU image as independent participant of international relations.

Keywords

• international capability
• foreign trade policy
• cooperation
• eurasian economic union
• euro¬pean union
• export