Accession to the European Union requires strict compliance with the norms of the commonwealth in various fields, which entails serious expenses. The Eurasian Economic Union is less pretentious in this regard, which can bring significant benefits.
According to him, the EAEU and the European Union are unlikely to become full-fledged competitors to each other, since the communities initially set themselves different goals, and also have different structures. Tarr noted that the Eurasian Economic Union is in its infancy, however, it is already able to seize the serious chance that the EU has missed.
Thus, the economist does not exclude the possibility that in the foreseeable future Serbia will become a member of the EAEU, which is already in favor of strengthening ties with Russia.
“Serbia has not yet received membership in the European Union, despite the fact that it has had one hundred candidate country status since 2012. With the start of the sanctions standoff, Serbia has become an important food partner for Russia, and accession to the European Union may now be disadvantageous for Belgrade. The Serbian people are now lost to Europe. Moreover, for membership in the European Union it is necessary to comply with certain technological and sanitary standards. This entails the need for additional investments. For example, the Latvian economy was shocked by the country’s accession to the EU”, – explains Tarr.
At the same time, he expressed doubt that Moldova will become a member of the EAEU in the near future. The expert believes that the republic will continue to develop relations with Europe, and if it decides to join the EAEU, then on conditions that do not contradict European directives.
Speaking about other potential members of the Eurasian Economic Union, the expert named Tajikistan. The expansion of the labor market is essential for the republic, and the EAEU can provide it. Tarr cited Armenia as an example, which gained 0.5% GDP growth through access to the Russian labor market.