CIS Countries Foreign Economic Activity — from Challenges to New Opportunities
Aim and tasks. To identify current trends and issues in foreign trade, the international financial system, and the investment activity of CIS member states, and to provide recommendations that contribute to sustainable economic development and strengthened mutual cooperation.Methods. Utilized statis...
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| Language: | English |
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President of the Russian Federation, Russian Academy of National Economy and Public Administration, North-West Institute of Management
2024-12-01
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| Series: | Евразийская интеграция: экономика, право, политика |
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| Online Access: | https://www.eijournal.ru/jour/article/view/1372 |
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| author | M. S. Goncharov |
| author_facet | M. S. Goncharov |
| author_sort | M. S. Goncharov |
| collection | DOAJ |
| description | Aim and tasks. To identify current trends and issues in foreign trade, the international financial system, and the investment activity of CIS member states, and to provide recommendations that contribute to sustainable economic development and strengthened mutual cooperation.Methods. Utilized statistics from the external sectors of CIS economies from 2019 to 2023. Methods of aggregation, comparison, retrospective, and indicative analysis were applied to the data. Graphical representation of indicators allowed for visualization of key trends in the studied metrics, calculated from data provided by the Interstate Statistical Committee of the CIS, the World Bank, UNCTAD, and the Brookings Institution.Results. In recent years, the CIS has faced several global shocks that have affected the international economic relations of its members with each other and with third countries. Despite external destabilizing influences and geopolitical turbulence, CIS member states maintain resilience and a positive development trajectory, largely due to mutually beneficial cooperation with Russia — an essential economic partner. Russia holds a leading position in mutual trade with CIS countries, and the reorientation of Russian exports to “friendly” countries has stimulated regional trade turnover. The burden of external debt for CIS national economies is decreasing, and their debt stability and solvency are normalizing. Less positive situation is in direct investment flows, which remain unstable and unevenly distributed among countries.Conclusions. In the context of individual national economies, it is fair to note that the complex geopolitical environment and unprecedented external economic pressures narrow opportunities for economic growth and sustainable development. However, this statement is not always true for interstate associations, and CIS member states are a prime example of this. Currently, during a challenging period that requires solidarity and mutual support from participants, the potential of this union can be fully realized. A thorough study of the issue can reveal numerous promising areas for mutually beneficial cooperation in trade, credit, and investment relations. It is necessary to eliminate integration barriers to transform the CIS into a powerful and influential international organization. |
| format | Article |
| id | doaj-art-a217f1438d1e405390520109269dc9dc |
| institution | Kabale University |
| issn | 2073-2929 |
| language | English |
| publishDate | 2024-12-01 |
| publisher | President of the Russian Federation, Russian Academy of National Economy and Public Administration, North-West Institute of Management |
| record_format | Article |
| series | Евразийская интеграция: экономика, право, политика |
| spelling | doaj-art-a217f1438d1e405390520109269dc9dc2025-08-20T03:50:38ZengPresident of the Russian Federation, Russian Academy of National Economy and Public Administration, North-West Institute of ManagementЕвразийская интеграция: экономика, право, политика2073-29292024-12-01184223310.22394/2073-2929-2024-04-22-33619CIS Countries Foreign Economic Activity — from Challenges to New OpportunitiesM. S. Goncharov0Russian Energy Agency of the Ministry of Energy of the Russian FederationAim and tasks. To identify current trends and issues in foreign trade, the international financial system, and the investment activity of CIS member states, and to provide recommendations that contribute to sustainable economic development and strengthened mutual cooperation.Methods. Utilized statistics from the external sectors of CIS economies from 2019 to 2023. Methods of aggregation, comparison, retrospective, and indicative analysis were applied to the data. Graphical representation of indicators allowed for visualization of key trends in the studied metrics, calculated from data provided by the Interstate Statistical Committee of the CIS, the World Bank, UNCTAD, and the Brookings Institution.Results. In recent years, the CIS has faced several global shocks that have affected the international economic relations of its members with each other and with third countries. Despite external destabilizing influences and geopolitical turbulence, CIS member states maintain resilience and a positive development trajectory, largely due to mutually beneficial cooperation with Russia — an essential economic partner. Russia holds a leading position in mutual trade with CIS countries, and the reorientation of Russian exports to “friendly” countries has stimulated regional trade turnover. The burden of external debt for CIS national economies is decreasing, and their debt stability and solvency are normalizing. Less positive situation is in direct investment flows, which remain unstable and unevenly distributed among countries.Conclusions. In the context of individual national economies, it is fair to note that the complex geopolitical environment and unprecedented external economic pressures narrow opportunities for economic growth and sustainable development. However, this statement is not always true for interstate associations, and CIS member states are a prime example of this. Currently, during a challenging period that requires solidarity and mutual support from participants, the potential of this union can be fully realized. A thorough study of the issue can reveal numerous promising areas for mutually beneficial cooperation in trade, credit, and investment relations. It is necessary to eliminate integration barriers to transform the CIS into a powerful and influential international organization.https://www.eijournal.ru/jour/article/view/1372cisinternational tradeexternal debtreliance on non-residentsinvestment flowsmutual integration |
| spellingShingle | M. S. Goncharov CIS Countries Foreign Economic Activity — from Challenges to New Opportunities Евразийская интеграция: экономика, право, политика cis international trade external debt reliance on non-residents investment flows mutual integration |
| title | CIS Countries Foreign Economic Activity — from Challenges to New Opportunities |
| title_full | CIS Countries Foreign Economic Activity — from Challenges to New Opportunities |
| title_fullStr | CIS Countries Foreign Economic Activity — from Challenges to New Opportunities |
| title_full_unstemmed | CIS Countries Foreign Economic Activity — from Challenges to New Opportunities |
| title_short | CIS Countries Foreign Economic Activity — from Challenges to New Opportunities |
| title_sort | cis countries foreign economic activity from challenges to new opportunities |
| topic | cis international trade external debt reliance on non-residents investment flows mutual integration |
| url | https://www.eijournal.ru/jour/article/view/1372 |
| work_keys_str_mv | AT msgoncharov ciscountriesforeigneconomicactivityfromchallengestonewopportunities |