The Kyrgyz Republic’s Entrance into the Eurasian Economic Union: Historical Parallels with State Formation In Europe and the Potential Impact on Economic and Political Development
Authors: Bakyt Omurzakov, Jon Mahoney
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Modern geopolitical challenges require the Kyrgyz Republic to concentrate on regional integration in its economic and political development. By the end of the 1990’s, the Kyrgyz Republic realized the need to adjust its development strategy in favor of regionalization, aiming at a partial recovery of economic and political ties that existed in Soviet times. In December 2014, the countries of Eurasian Economic Union (Russian Federation, Kazakhstan, and Belarus) approved the road map on accession of the Kyrgyz Republic, and between April-July 2015 parliaments of member countries ratified accession of the Kyrgyz Republic. This paper examines one of the most pressing questions for the Kyrgyz Republic: how will accession to the Eurasian Economic Union (EEU) impact economic and political development in the Kyrgyz Republic? We consider some of the main issues surrounding accession to the EEU by noting some historical parallels with the analysis in H. Spruyt’s (1994) influential work, The Sovereign State and Its Competitors: An Analysis of Systems Change. We argue that accession of the Kyrgyz Republic to the EEU is positive from a current economic standpoint. However, since there are also political risks along with potential long-term economic risks, we argue for a cautious yet balanced position.