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The Establishment of the EEU and Changes in International Relations in Eurasia economic integration, economic cooperation

Author Hongyul Han, Joung-Ho Park, Sungwook Yoon, and Hyekyung Cho Series 14-09 Language Korean Date 2014.12.30

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After Vladimir Putin won the 2012 Russian presidential elections, one of his first Presidential decrees involved creation of a ‘strong Russia’. In particular, the post-Soviet space has been given renewed focused, because the world powers including Russia have tried to reorganise their power relationship in and around this region. The post-Soviet sphere has become an area for strategic competition where pro-Russian regional groups and anti-Russian or pro-European multilateral organisations co-exist.
In 2014, the Russian government adopted three goals in connection with its foreign policy, and one of goals is to strengthen regional integration in the Eurasian Continent, efforts for which is to be led by Russia. In this sense, the Eurasian Economic Union (EEU) which came into existence officially on January 1 2015 has implications as Russia’s ambitious regional integration project for the CIS area.
From these perspectives, this research has three goals: the first goal is to examine the economic significance of EEU in terms of spatial reorganisation of the global economy; the second is to analyse EEU’s political impact from the perspective of Russia’s international strategy; and the third goal is to examine the response or policies of relevant countries (world powers such as US, EU and China and countries in the CIS area) regarding the EEU. This research eventually leads to providing implications and policy directions for the Korean government’s Eurasia Initiative.
The second chapter of this research covers the background and current situations related to regional structural changes in the global economy, which also serves as the theoretical background for this research. The next chapter analyses Russia’s international strategy and EEU’s expansion policy. The analysis in this chapter shows Putin’s ambition to build up strong regional power groups. The fourth chapter examines strategies and policies towards EEU of major global powers such as the US, the EU and China, each of which has different policies and/or strategies depending on its economic and/or political relations with Russia and countries in Central Asia. The fifth chapter demonstrates how various countries in post-Soviet sphere set up their strategies and/or policies towards EEU, in particular, focusing on whether countries in this region joined the EEU; Kazakhstan and Belarus as members of Customs Union which automatically become the member of the EEU.
This research will contribute to a better understanding of the internal dynamics and future perspectives of Eurasian regional integration, spatial changes connected to international relations in the post-Soviet space, and energy-related relations from the beginning of EEU. In addition, this research could lay a foundation for the Korean government in setting up mid-to-long-term strategies towards the EEU.

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