A Study on the Dynamics of Foreign Trade and the Issues of Regional Economic Integration in Central Asia

Posted: 14 Dec 2018

Date Written: November 12, 2018

Abstract

At the current stage of globalization, Central Asia (CA) is becoming a focal point for the political and economic interests of global forces because of its rich natural resources and critical strategic position. From this point of view, the CA countries need to form a joint development strategy for solving regional problems and a strong mechanism for countering the main political and economic conflicts in the region. At the same time, the countries of the region need to choose the path of joint development in order to increase the efficiency of their internal capacities and resources, adapt the domestic social and economic infrastructure to modern requirements and improve the living standards of the population.

This is directly related to the progress of regional economic integration in CA. Through this integration, the economies of the countries in the region could complement each other and ensure a high level of development in mutual trade and industrial development.

However, there are some obstacles and problems hindering the development of economic integration in the region. Most particularly, the weak infrastructure in the region, its economic-geographical isolation from world markets, administrative barriers and political instability hinder trade between the countries of CA.

From this point of view, this study focuses on the problems of general and cross-border trade in CA countries, and the opportunities for economic integration in the region.

Keywords: Foreign Trade, Export, Import, Central Asia, Mutual Trade, Economic Integration

JEL Classification: F50, F63, R11

Suggested Citation

Umarkulov, Kodirjon Maxamadaminovich, A Study on the Dynamics of Foreign Trade and the Issues of Regional Economic Integration in Central Asia (November 12, 2018). KIEP Research Paper. Working paper 18-05. Available at SSRN: https://ssrn.com/abstract=3299424

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