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Regional Integration in Eurasia: the Transformation of Customs Union into Eurasian Economic Union

Student: Ilona Vil`gel`mina Vekkeli

Supervisor: Maxim Bratersky

Faculty: Faculty of World Economy and International Affairs

Educational Programme: Master

Year of Graduation: 2014

<div>The Customs Union between Belarus, Kazakhstan and Russia is due to transform into a Eurasian</div><div>Economic Union in 2015. This paper discusses the reasons for this transformation, as well as the</div><div>early integration attempts that have led to the formation of the Customs Union and Eurasian Union.</div><div>In analysing this subject, the study uses the theories of New Regionalism Approach and Eurasian</div><div>ideology as explanatory tools. The reasons for the transformation are threefold. Firstly, Russia is</div><div>pooling the largest economies of the region together to create economic advantages. Secondly, this</div><div>economic integration makes the countries interdependent and strengthens Russia&rsquo;s position in the</div><div>region. Finally, with its strong regional position, Russia can reclaim its status as a global great</div><div>power.</div>

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