ECONOMIC AND POLITICAL IMPEDIMENTS FOR TRADE IN CENTRAL ASIA

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International Congress on Economics, Finance & Energy (EFE)
EFE2018 Book of Proceedings
ECONOMIC AND POLITICAL IMPEDIMENTS FOR TRADE IN CENTRAL ASIA

ECONOMIC AND POLITICAL IMPEDIMENTS FOR TRADE IN CENTRAL ASIA

Authors : Kanat MAKHANOV, Abulkhairkhan ZHUNISBEK

Pages : 78-87

View : 73 | Download : 116

Publication Date : 2018-12-31

Abstract :After the collapse of the Soviet Union in 1991, the newly independent republics of Central Asia have implemented strategies of economic integration into the world markets through exports of raw materials. The inflows of foreign currency that came from the exports of mineral resources allowed to Central Asian republics to import capital and consumer goods, thus, sustaining tolerable levels of income for the population. This strategy also allowed them to promote relatively high economic growth rates. However, the integration to the global market through predominantly mineral exports throughout two decades was implemented at the expense of the intraregional trade since major part of the exports of the Central Asian countries was oriented to other regional markets. There are several factors that hindered the trade cooperation between the Central Asian countries. This paper focus- es on the spatial determinants of trade cooperation between the Central Asian countries.
Keywords : Trade, Central Asia, Integration, Geography, Trade costs

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