A new model of cooperation in Eurasia: EAEU and SCO in the framework of the Greater Eurasian Partnership

Abstract

The modern world economic system is undergoing another period of
transformation. Globalization and increasing interdependence, which were relevant at the
beginning of the twenty-first century, have played a significant role. However, at this stage,
the main trends of world economic development are: the process of rapid reformatting, if not
the destruction of the system of global economic regulation, which is based on the
mechanisms of the World Trade Organization formed over decades; increased competition
between the world's leading centers of economic development, up to the trade wars between
the United States and China; a radical shift in the center of economic activity towards
developing countries and markets; a new trade and economic redistribution of the world on
the basis of regional associations and preferential trade zones; the accelerated spread and
economic impact of technology, especially the digitalization of the economy.
In this regard, the analysis of the activities and prospects of development of regional
associations in the Eurasian Space is of particular interest. The purpose of this Chapter is to
identify trends in the development of the Eurasian Economic Union (EAEU) and the Shanghai
Cooperation Organization (SCO), comparative analysis and identification of areas of mutual
interest, consideration of mechanisms of interaction and intersection, forecast analysis of the
expansion of areas of cooperation and achieving sustainable development of regional
integration.
The relevance of the study is determined by the need to understand the new regional
agenda, as well as to develop new approaches to the development of cooperation within the
framework of the "Greater Eurasian Partnership". As a result of the study, conclusions will be
made about the prospects for the formation of a new model of cooperation in Greater Eurasia,
its value and institutional content, the possibilities of achieving a new balance in the socioeconomic development of the countries of the region.