NEW ECONOMIC DIMENSION OF THE EURASIAN ECONOMIC UNION

The article aims at determining the current economic dimensions of the Eurasian Economic Union (EAEU) and the EAEU impact on the economic relations of the Member states. The research instruments developed on the basis of the European integration are often not suitable for the measurement of effects in the post-Soviet space. The starting point for the Eurasian RIAs was the collapse of the USSR, the entity the researched countries were members of and not the integration of sovereign states as it was in the case of the EU. So the processes occurring at the researched area are both integrative and disintegrative. The new economic dimensions of the EAEU are: the position of the researched countries in the international division of labor, their participation in global value chains and the ability to create a common advantage in international relations. The latter criterion is researched from the perspective of land threads of the New Silk Road (One Road One Belt) between China and the European Union. The main research hypothesis regarding to the investigated effects of the EAEU is that the common international economic strategy adopted by the EAEU (in relation to the New Silk Road, the EU, China and not only) can be an actual measure of their economic impact strength. The article points out that although the cause of the institutionalization and creation of the EAEU are mainly politically motivated, the effects of their functioning strongly impact on the economy of the participating countries in a positive and negative way. In addition, the article shows that the strength and character of this impact are different for the particular EAEU countries. In this article, the trade of the particular Member States within and outside the EAEU was selected as a research instrument.