INFLUENCE OF INTEGRATION OF THE KYRGYZ REPUBLIC INTO THE EURASIAN ECONOMIC UNION AND THE SILK ROAD ECONOMIC BELT ON THE ECONOMIC DEVELOPMENT

Abstract

The paper deals with the economic integration of the Kyrgyz Republic in the Eurasian Economic Union, as well as interaction with the project “The Silk Road Economic Belt”. The content of these concepts is like the integration processes of the modern international economy. The combination of these mechanisms will create a new model of economic cooperation. The Silk Road Economic Belt is a megaproject consisting of a number of specific projects, including infrastructure projects. Unlike the EAEA, there is no international legal personality. Its peculiarity is to strengthen and develop the transport infrastructure of the states on the path of “The Silk Road Economic Belt” and on this basis create a sustainable model of economies’ access to each other by introducing international procedures for simplification of international trade. At the same time, the Eurasian Economic Union doesn’t take on projects, but it creates conditions for profitable and efficient business. The countries provide the freedom of movement of goods, services, capital and labor, as well as concerted, coordinated or unified policies in the economic sectors.  Entrepreneurs of the EAEA member states benefit from participating in this or that project, including the projects of “The Silk Road Economic Belt”. Ample opportunities are caused by the geopolitical status of Eurasia, which has traditionally been a link between Europe and Asia. Today, Europe is actively seeking Asian markets entry and Asia is interested in the European market. Therefore, the question is not about competition, but about cooperation and partnership. It should be noted that participation of the Kyrgyz Republic in these two integration communities is useful in the overall combination and interaction.