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Geopolitical position of Ukraine on intersection of European and Eurasian area opens great opportunities to our country to choose the most optimal pattern of economic co-operation. In the west integration is represented by powerful economic and politic alliance – European Union (EU), which unifies 27 countries today. In the east integration projects are carried out under the aegis of Russian Federation in the context of Eurasian Economic Community (EAEC or EurAsEC) which in the upshot must transform into the Eurasian Union (EAU). It’s interesting for us to compare this integration projects by several characteristics: participants, aims of integration, mechanisms of achievement, stages of integration, supranational institutions. Basic agreements which were the start up of the communities - European Economic Community (EEC) and Eurasian Economic Community (EAEC or EurAsEC) – were taken as a foundation. It’s Treaty of Rome in 1957 for European Economic Community (EEC) and the Treaty on the establishment of the Eurasian Economic Community 2000 for Eurasian Economic Community (EAEC or EurAsEC). It’s significant that besides Treaty of establishment of EurAsEC exists a treaty about Customs union and Common economic space which was signed in 1999. On basis of this treaty Customs union start to function consisting of Russian Federation, Belarusian and Kazakhstan. Participants. Treaty of Rome in 1957 was signed by six countries: France and Germany as founders of European integration, Italy, Belgium, Netherlands and Luxembourg. Subsequently other countries join the treaty. Treaty on the establishment of EurAsEC were signed by Russian Federation, Belarus, Kazakhstan, Kyrgyzstan, Tadzhikistan, in 2006 Uzbekistan joined the treaty, but in 2008 it suspended participation. Russian Federation, Belarus and Kazakhstan form the Customs union. On 19 October 2011 heads of states decided that Kyrgyzstan should join the Customs union. Nowadays, there are three participants of Common economic space – Russian Federation, Belarus and Kazakhstan. Mechanisms of achievement. Considering mechanisms of achievement existing targets some common moments can be allocated: revocation of custom duty for the members of the unions, forming of Common market by means of leading in fourth liberties (free transference of goods, capitals, services and workforce) in the aggregate with realization of “common politics” and development general transport, energetic and information networks. At the same time in treaty of EurAsEC it’s said about harmonization of monetary management and tax policy that demonstrate plans for future integration for creation of Economic and currency union. Steps of formation of economic communities are separated out according to aims and mechanisms of its’ realization and means formation of customs union (revocation of inland custom duties and establishment of domestic custom tariff) as a priority objective in both cases; further it is planned to create the common market of goods, services, capitals and workforce, concordance of economic policy, establishment of common infrastructure, consummation of harmonizing of legislation. On the third stage it is planned to create Economic and currency union. The only differences are terms of realization of scheduled plans: EEC systematically abolished custom duties during 10 years, what allowed to create custom union only in 1968, although all the limit measures were finally abolished only in 1990s. Custom union of RF, Belarus and Kazakhstan starts its work from 1st of July 2010 at the same time there are a lot of “protected” goods (for RF – 50 positions). EEC has been building Common market during 30 years methodically correlating positions. Participants of CU RF, Belarus and Kazakhstan signed a set of conventions on 18th November 2011 according to those Common economic space has started working since 1st January 2012. In other words in spite of European it took only a year and a half to organize such a difficult integration mechanism which envisages “synchronization of economic reforms accomplished by state-members, joint measures for carrying out coordinated economic policy, harmonizing and unification legislation in economic, trade and other spheres”. According to program documents of Eurasian integration it is planned to create Eurasian economic union as the highest form of economic integration to 2015. For this to be done consolidated tariffs, technical regulations and banking system should be created, common currency should be launched and also it’s important to harmonize labour and migration legislation. Economic and currency union of European states were creating within politic integration and came true only in the end of 1990s with launching common currency in to clearing settlement – euro. Subsequently Eurasian integration project is similar to European one as it has the same aims, enterprises, stages and supranational institutions. It allows to draw a conclusion that integration in the frameworks of Eurasian project (EAU) will take place by the analogical script, however the pace and principals of Eurasian integration differ dramatically. REFERENCES: [1] Treaty Establishing the European Community as Amended by Subsequent Treaties, Rome, 25 March 1957 [2] Ella Baybikova. “Multilateral and Regional Development Banks in Northern and Central Eurasia: Overview of Activities in 2011 [3] Eurasian Integration Yearbook 2012. – Almaty, 2012. – p. 360