Eastern Partnership integration with the EU and inclusive growth of national economies

Abstract

The paper aims at analyzing the circumstances and objectives of the regional integration in the context of global development. The EU is one of the most influential and important actors of the global world, which represents one of the most developed examples of the regional integration. During the development, the EU went through the several stages on enlargement. Even nowadays, without having targeted to the reactive new member in foreseen future, the EU continues the process of integration of adjacent regions by setting goals and priorities through different forms such as the European Neighborhood, the Eastern Partnership, Association Agreements, various types of Trade agreements. The Eastern Partnership which represents the EUs eastern neighborhood consisting by former soviet republics has steadily gone up with integration: 1. Georgia, Moldova, and Ukraine have already signed the Association Agreement (AA) including Deep and Comprehensive Free Trade Areas (DCFTAs) with the EU and now these countries work on further progress in terms of the Implementation of AA/DCFTA; 2. Armenia and Azerbaijan are seeking new framework to up-grade their relationship with the EU, Belarus created EU Belarus Co-ordination Group and acts within the Single Support Framework program for 2017-2020. The evolution of EaP countries trade data evidently show the changes and growing dynamics in the region. The obvious increasing tendency of trade volumes predicts for further success in the future after the DC FTAs are enacted fully for some countries and/or other trade facilitation measures are utilized fully for others. A new approach to the economic growth also suggests that benefit from economic growth supports poverty reduction, widely spreads across sectors and affects the majority of the labor force and hence, rise the welfare of the population. In this context, Corporate Social Responsibility (CSR) appears to be a useful tool to achieve this overwhelming goal. In the difficult business climate prevailing in most of the EaP countries, the role of the EU support could include raising awareness on CSR and supporting the implementation of relevant standards in the enterprises that are benefiting from the EU assistance.