Conflict Resolution within the EAEU to Maintain Its Forum

Roedyati, Joevi (2023) Conflict Resolution within the EAEU to Maintain Its Forum. In: An Overview on Business, Management and Economics Research Vol. 1. B P International, pp. 76-83. ISBN 978-81-19491-57-5

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Abstract

The Eurasian Economic Union maintain is fundamental for Russia, because its role as the engine for its superpower is energy dominance. Russia produces 20.7% of the world's natural gas and 14.6% of the world's oil and gas condensate. The Eurasian Economic Union (EEU or EAEU is a project for the economic integration of the former Soviet region. Its formal objectives are to create a common market much like the European Union (EU). There are four targets of this forum, i.e:1) coordinating economic policy, 2.) eliminating non-tariff trade barriers,3) harmonizing regulations, and 4).modernizing the economies of its five member states. While the whole population of EEU member states is estimated 180 million people.

The Eurasian Economic Commission, which serves as the EEU's regulatory body, is situated in Moscow, and the Eurasian Economic Union Court is based in Minsk. The Commission's authority is constrained. The Commission lacks the authority to refer a member state to the Court in a case of non-compliance, and member states that disagree with its rulings may appeal to other bodies. Contrary to EAEU institutions, bilateral agreements are frequently used to settle disputes. Member States shall create favorable conditions for fulfillment of the functions of the EAEU and shall refrain from measures that could prevent the achievement of the objectives of the EAEU. Bureaucratic forms of the EU have not been fully copied by the EAEU, which seems a slow phase of its development so far. This is might be caused by EAEU GDP in 2019 being the majority Russian economy (87%). Russia is by far the largest member state and dominates the Union. This domination means that Russia is easily able to act unilaterally within the union [1].

Item Type: Book Section
Subjects: Eprints AP open Archive > Social Sciences and Humanities
Depositing User: Unnamed user with email admin@eprints.apopenarchive.com
Date Deposited: 23 Sep 2023 09:24
Last Modified: 23 Sep 2023 09:24
URI: http://asian.go4sending.com/id/eprint/1066

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