Strategic Development of the Eurasian Economic Union in the Coronacrisis Era

Abstract

To determine the capabilities of the Eurasian Economic Union to overcome the global economic crisis associated with the spread of coronavirus infection, and to restore the economy in the post-coronavirus period, the author conducts a SWOT analysis and reveals the strengths and weaknesses of Eurasian integration in the context of external challenges. The Eurasian Economic Union has a fundamental basis that allows it to undertake anti-crisis measures quickly — this is the presence of institutional mechanisms of interaction on the platform of a supranational body — the Eurasian Economic Commission. As a result, the author proposes to focus on such advantages of the association as high human and scientific potential; and to prioritize the development of information and communication and medical technologies, energy efficient technologies, a “green” economy, which may become a specialization of the region in the new time, in order to avoid falling into export and commodity dependence on the new economic leader — China. The relevance of the study is due to the ongoing work of the Eurasian Economic Commission to prepare an action plan for the implementation of the Strategic Directions for the Development of Eurasian Economic Integration until 2025.

Keywords

• integration
• coronavirus
• crisis
• globalization
• economics