Analysis Of The Economic Effects Of Customs Union Of Russia, Belarus And Kazakhstan

The economic globalization and regional economic integration have already been the unstopped trend since90’s last century. In order to follow this trend, many countries enhanced regional economic cooperation by implementing special trade, investment policies, ensured tighter coordination with each other to deal with the global challenges. Countries in the Post-Soviet Space are no exception. Customs Union of Russia, Belarus and Kazakhstan ran on6th of July in2010which represents the further deepening coordination in the Post-Soviet Space. To analyze the economic effects of Customs Union and understand the influences on China has important impact for pushing forward bilateral economic and trade relations.This paper does research on the concept and characteristics of Customs Union and introduces the trade situations among these three countries. Then to analyze comparative advantages of these three countries using the RCA and evaluate the economic effects by establishing gravity model, at last analyzing the influence of customs union of Russia, Belarus and Kazakhstan on China and putting forward policy suggestions.