Drivers of Mutual Trade of the EAEU Countries in Conditions of Trade Barriers (on the Example of Mineral Products)

Abstract

The study carried out in the chapter aims to determine trade drivers that can successfully intensify mutual trade in products of mineral origin between members of the Eurasian Economic Union (EAEU). The authors applied the methods of correlation and comparative analysis to identify the main ways to increase foreign trade flows between integration countries under the conditions of foreign trade barriers. After using the analysis of the correlation relationship between the mutual foreign trade turnover of the EAEU countries, covering the commodity group “mineral products”, and other main statistical indicators, the authors identified the main drivers of mutual trade in mineral products. Among such methods of enhancing mutual merchandise trade are GDP growth, strengthening of revealed comparative advantages, cargo tracking mechanisms, the quality of logistics services and the level of organisation of international shipments. Transport infrastructure, timeliness of delivery and the share of domestic R&D expenditures in GDP have a less positive impact on the mutual trade of integration countries, while geographical distance and customs checks, on the contrary, have a negative impact on trade flows. The obtained results of the analytical work can help to form guidelines on which the Eurasian integration community needs to rely to achieve unhindered mutual foreign trade activities.

Citation

Terletskiy, M.V. and Madiyarova, D.M. (2023), "Drivers of Mutual Trade of the EAEU Countries in Conditions of Trade Barriers (on the Example of Mineral Products)", Popkova, E.G. (Ed.) Game Strategies for Business Integration in the Digital Economy (Advances in Business Marketing and Purchasing, Vol. 27), Emerald Publishing Limited, Leeds, pp. 59-67. https://doi.org/10.1108/S1069-096420230000027007