Economic Integration in the Black Sea Region: Tendencies in the Conditions of the Geoeconomic Balance Transformation

Abstract

The Black Sea region is an area of the intersection of both regional and global players’ interests. This region concentrates at the same time a number of frozen interstate conflicts. The concept of the research assumes the possibility of smoothing geopolitical tension by means of strengthening economic relations of the countries. The Black Sea region during the Post-Soviet period was characterized by the absence of an obvious leader in the region, manifestation of interstate contradictions and also orientation of the countries to the global geopolitical poles standing in opposition to each other. All the factors mentioned above have been significantly reducing the interaction potential during the last 25 years. The aim of the research was to study the current state, factors and problems of the economic integration in the Black Sea region. The research was based on the analysis of scientific approaches to studying interactions in the region and on the quantitative analysis of the current level of trade and economy, as well as infrastructural and communicative interrelation of economies. The article shows the importance of infrastructural and trade interrelation of economies as a factor of smoothening geopolitical interaction. The author makes the conclusion about significant influence of the geopolitical factor in the long-term cooperation in the Black Sea region. The paper defines the instruments of strengthening the connectivity of macro region countries in the economic sphere. The economic cooperation in the Black Sea region is presented as a long-term and stable platform for both economic growth and smoothening modern conflicts in the region.