The Eurasian Union – much potential, little results

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Title: The Eurasian Union – much potential, little results
Author: Niemi, Riku
Organization: Suomen Pankki
Bank of Finland
Department / Unit: Siirtymätalouksien tutkimuslaitos (BOFIT)
Institute for Economies in Transition (BOFIT)
Series: BOFIT Policy Brief
Series number: 1/2016
Year of publication: 2016
Publication date: 12.1.2016
Pages: 38
Subject (yso): ulkomaankauppa; taloudellinen integraatio; kauppapolitiikka; suorat investoinnit; tulliliitot
Keywords: Bofit-kokoelma; Venäjä; Valko-Venäjä; Kazakstan; Euraasia; Euraasian talousliitto
JEL: F13; F15; F53; P33
Other keywords: Russia; Kazakhstan; Belarus; trade policy; tariffs; foreign trade; integration; foreign direct investment
Abstract: Russia, Kazakhstan, and Belarus established the Eurasian Customs Union in 2010. Five years later, it became the Eurasian Economic Union. External tariffs have been harmonised and some internal trade barriers have been tackled. Most notably, internal border controls had been abolished by July 2011. This policy brief brings together facts and data on recent changes in trade-related institutions, trade barriers and trade flows across the internal and external borders of the Union. Trade barriers and flows are analysed at the level of product categories. The purpose is to identify the countries and sectors where the greatest trade creation or diversion is likely to have taken place and whether notable changes can be observed.

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