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Registration Number

0207U005773, 0106U011575 , R & D reports

Title

Development of scientific recommendations regarding the estimate of economic consequences of further fragmentation of the CIS economic space due to the establishment of the Common Economic Space

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Head

Burakovsky I.V.,

Registration Date

20-06-2007

Organization

Non-governmental organization "Institute for Economic Research and Policy Consulting"

Description

Nowadays Ukraine has to develop rational strategies towards various vectors of regional economic integration. Officially, Ukraine declared the membership in the WTO as the priority goal of economic policy, and emphasizes the economic integration in Europe. At the same time, the participation in the SES (Single Economic Space) is also plays an leading role in declared foreign economic policy of the country. This situation explains the need to study the economic consequences for Ukraine resulted from the fragmentation of the CIS economic space due to establishment of the SES as sub-regional economic organization. The study showed that the main economic benefit of current integration processes in the CIS framework was the establishment of free trade areas. That allowed partial preserving traditional economic relations among countries. The establishment of the SES at the higher levels of economic integration (other than free trade area within the SES) is likely to have a negative impact on Ukraine’s economy. At the same time, the maintenance of existing free trade areas, the establishment of free trade without exclusions, and, even better, the signing of extended free trade agreement is beneficial for Ukraine’s economy.

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