OUTCOMES OF KYRGYZSTAN'S MEMBERSHIP IN THE EURASIAN ECONOMIC UNION

Abstract

The article considers some intermediate results of Kyrgyzstan's presence in the EEU. The Republic has long gone to join this integration project. After a period of 3,5 years of its entry into the Union, publications by the EEC and Kyrgyz official statistical services show positive socio-economic results, stable growth of the economy, solving many problems of the public sector and the minimal inflation values. Meanwhile, a critical look at the indicators and a comparison of data from national and international institutions does not allow us to make so unequivocal conclusions. Over the several years that the country has been part of the integration association, the inflow of remittances relative to gross domestic product has grown from 29,9% to 33,2%. Improving the competitiveness of the labor force from Kyrgyzstan in the labor markets of the countries of the Eurasian Economic Union is one of the important results of the republic joining this international organization (as well as the ensuing increase in remittances). In addition, support of the Russian Federation is very significant for the republic (the supply of petroleum products at competitive prices for Kyrgyzstan, as well as the volume of gratuitous assistance provided, including for customs and border control). However, despite the positive dynamics of a number of indicators, which is customarily interpreted as the effects of the entry of the Republic into the Eurasian economic union, trade with the countries of the Union is growing more slowly than trade with China, which is already the largest trade and investment partner of the Republic.