Uzbekistan and the EAEU: Prospects and Potential Impact of Economic Integration

Reports and Working Papers, 21/2. Moscow: Eurasian Development Bank, 2021

70 Pages Posted: 14 Oct 2021 Last revised: 18 Jan 2022

See all articles by Evgeny Vinokurov

Evgeny Vinokurov

Eurasian Development Bank

Taras Tsukarev

Eurasian Development Bank

Arman Ahunbaev

Eurasian Development Bank (EDB)

Aigul Berdigulova

Eurasian Development Bank

Aleksei Kuznetsov

Eurasian Development Bank

Vladimir Pereboev

EDB Centre for Integration Studies

Konstantin Fedorov

Eurasian Development Bank

Anatoly Kharitonchik

Independent

Anna-Maria Chkoniya

Eurasian Development Bank

Victoria Babajanyan

Eurasian Developement Bank; Ministry of Finance of Armenia

Date Written: July 1, 2021

Abstract

This report assesses the potential effects of integration of the Republic of Uzbekistan with the Eurasian Economic Union (EAEU), and lists the most promising areas of cooperation between the current Union member countries and Uzbekistan. The authors have examined the key indicators of social and economic development of Uzbekistan and the main areas of trade and investment cooperation between the republic and the EAEU, and have presented an in-depth review of two sectors that are critical for Uzbekistan and for Central Asia as a whole: transport and the water and energy complex. The authors have concluded that, inasmuch as Uzbekistan is a large and strategically positioned Central Asia player, resolution of regional development issues without its participation will not make much progress. Deeper economic integration between Uzbekistan and the EAEU may become a major driver of investment and trade cooperation.

Keywords: Uzbekistan, Eurasian Economic Union, integration, economic effects, mutual trade, investments, infrastructure, water and energy complex, transport, labour migration

JEL Classification: F15, F21, F22, O11, O18, O47, O53

Suggested Citation

Vinokurov, Evgeny and Tsukarev, Taras and Ahunbaev, Arman and Berdigulova, Aigul and Kuznetsov, Aleksei and Pereboev, Vladimir and Fedorov, Konstantin and Kharitonchik, Anatoly and Chkoniya, Anna-Maria and Babajanyan, Victoria, Uzbekistan and the EAEU: Prospects and Potential Impact of Economic Integration (July 1, 2021). Reports and Working Papers, 21/2. Moscow: Eurasian Development Bank, 2021, Available at SSRN: https://ssrn.com/abstract=3941759

Evgeny Vinokurov (Contact Author)

Eurasian Development Bank ( email )

1st Zachatyevskiy Lane 3b1
Moscow, 191123
Russia

HOME PAGE: http://www.vinokurov.info

Taras Tsukarev

Eurasian Development Bank ( email )

Moscow, 191123
Russia

Arman Ahunbaev

Eurasian Development Bank (EDB) ( email )

1 Zachatievskiy pereulok
house 3, block 1
Moscow, 119034
Russia

Aigul Berdigulova

Eurasian Development Bank ( email )

Krasnopresnenskaya emb. 12
Moscow, 123610
Russia

HOME PAGE: http://https://eabr.org/en/analytics/chief-economist-group/

Aleksei Kuznetsov

Eurasian Development Bank ( email )

Krasnopresnenskaya emb. 12
Moscow, 123610
Russia

HOME PAGE: http://https://eabr.org/en/analytics/chief-economist-group/

Vladimir Pereboev

EDB Centre for Integration Studies ( email )

Paradnaya 7
Saint-Petersburg, 191123
Russia

Konstantin Fedorov

Eurasian Development Bank ( email )

Russia

Anatoly Kharitonchik

Independent ( email )

Anna-Maria Chkoniya

Eurasian Development Bank

Victoria Babajanyan

Eurasian Developement Bank ( email )

Russia

Ministry of Finance of Armenia ( email )

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