Central Eurasian Economic Area

The objectives of the subject “Central Eurasian Economic Area” are the following:

1. To define the economic characteristics of the Economic Area of Eurasia Central;
2. To understand the influence of Islam on the Central Eurasian Economic Area;
3. To know the economic profile of the countries of Central Eurasia;
4. To understand the economic integration process in the Central Eurasian Economic Area;
5. To analyze the main Businesspeople in Central Eurasia;
6. To explore the economic relationships with the others economic areas of different civilizations;
7. To analyze the economic institutions related to the Central Eurasian Economic Area.

The Subject “Central Eurasian Economic Area” belongs to the following Online Higher Educational Programs taught by EENI Global Business School:

Courses: Islam & Business.

Doctorate (DIB): Ethics, Religions & Business, Islamic Business, European Business, World Trade.

Masters (MIB): International Business, Foreign Trade, Religions & Business.

Download the Syllabus of the Subject “Central Eurasian Economic Area” (PDF).

Why study “Islam, Ethics and Business”?.

Languages of study: or Espace économique de l’Eurasie centrale Espacio Eurasia Eurásia.

1. Credits of the Subject “Central Eurasian Economic Area”: 2 ;
2. Duration: two weeks.

Central Eurasian Economic Area.

The Central Eurasian Economic Area consists of eleven countries: Afghanistan, Azerbaijan, Albania, Iran, Kazakhstan, Kyrgyzstan, Pakistan, Tajikistan, Turkmenistan, Turkey, and Uzbekistan.

Furthermore, Bangladesh and the Maldives are included because of their growing economic integration in the region.

1. Islam is the main religion in the Central Eurasian Economic Area;
2. There are Orthodox Christian minorities;
3. This economic area covers European and the Asian Countries;
4. The largest economies are Turkey, Iran, and Pakistan. These three countries are trying to be the Central State;
5. All the Central Eurasian Countries were former colonies (Soviet Union, United Kingdom);
6. Pakistan was a part of India until the partition (1947).

The main businesspeople in the Central Eurasian Economic Area are Muhammad Yunus, Mian Muhammad Mansha, Salman F Rahman, Dewan Yousuf Farooqui, Muhammad Abdul Mannan.

1. The case of Iran:
   1. Bonyads;
   2. Islamic Revolutionary Guard.

Integration in the Islamic Economic Area of Central Eurasia.

1. Kazakhstan and Kyrgyzstan belong to the Eurasian Economic Union (EAEU) (with Armenia, Belarus, and Russia). The EEU has a Free Trade Agreement with Azerbaijan;
2. Afghanistan, Azerbaijan, Iran, Kazakhstan, Kyrgyzstan, Pakistan, Tajikistan, Turkey, Turkmenistan, and Uzbekistan are part of the Economic Cooperation Organization (ECO);
3. Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan are members of the Commonwealth of Independent States (CIS) (with Armenia, Russia, Belarus, Moldova, and Ukraine);
4. Kazakhstan, Kyrgyzstan, Tajikistan, and Uzbekistan are members of the Shanghai Cooperation Organization (SCO) (with Russia and China);
5. Bangladesh, Iran, the Maldives, and Pakistan are members of the Asian Clearing Union (ACU) (with Bhutan, India, Myanmar, Nepal, and Sri Lanka);
6. Afghanistan, Bangladesh, the Maldives, and Pakistan are members of the South Asian Association for Regional Cooperation (SAARC) (with Bhutan, India, Nepal, and Sri Lanka. Iran is an observer country) and the SAARC Preferential Trade Arrangement (SAPTA);
7. Afghanistan, Azerbaijan, Kazakhstan, Kyrgyzstan, Pakistan, Tajikistan, Turkmenistan, and Uzbekistan are members of the Central Asia Regional Economic Cooperation (CAREC) Programme (with China and Mongolia);
8. Bangladesh and the Maldives are members of the South Asia Subregional Economic Cooperation (SASEC) (with Bhutan, India, Nepal, and Sri Lanka);
9. Azerbaijan, Kazakhstan, Kyrgyzstan, and Turkey are part of the Cooperation Council of Turkic Speaking States (Turkic Council);
10. Afghanistan, Kyrgyzstan, Pakistan, and Tajikistan belongs to Regional Electricity Market Central Asia - South Asia;
11. Pakistan has trade agreements with Iran and Bangladesh and has signed an Agreement on Economic Cooperation with Kyrgyzstan;
12. Kyrgyzstan has trade agreements with Kazakhstan and Uzbekistan.

All the Eurasian Muslim Countries are part of the Trade Preferential System of the Organization of Islamic Cooperation (OIC-TPS).

1. The Eurasian countries that have signed the Framework Agreement + PRETAS + Rules of Origin are Bangladesh, Pakistan, and Turkey;
2. Only Iran has signed the Framework Agreement + PRETAS;
3. The Maldives has signed only the Framework Agreement of the Trade Preferential System;
4. Afghanistan, Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan do not yet benefit from the Trade Preferential System of the OIC.

New Silk Road.

1. Almaty-Bishkek Economic Corridor;
2. Bangladesh-China-India-Myanmar Economic Corridor;
3. China-Pakistan Economic Corridor;
4. China-Central Asia-West Asia Economic Corridor;
5. Transport Corridor Europe-Caucasus-Asia (TRACECA).

Trade Agreements and economic Institutions covering all the Islamic Economic Areas.

1. Trade Agreements and Economic Institutions;
   1. No country in the region is a member of the Arab League, and therefore, they are not members of the Greater Arab Free-Trade Area (GAFTA);
   2. Turkey belongs to the Euro-Mediterranean Partnership;
   3. Bangladesh and Iran are members of the Indian-Ocean Rim Association (IORA) (with others African and Asian Countries).
2. Free Trade Agreements between the Muslim Countries:
   1. Turkey has a Free Trade Agreements with Morocco, Tunisia, Egypt, Jordan, Lebanon, Palestine, Albania, and Syria;
   2. Iran has a Free Trade Agreements with Algeria and Syria.

Economic Organizations related to the Central Eurasian Economic Area.

All the countries with Muslim majorities of Central Eurasia are members of:

1. Organization of Islamic Cooperation (OIC) and therefore its affiliated institutions;
   1. Islamic Centre for Development of Trade (ICDT);
   2. Committee for Economic and Commercial Cooperation;
   3. Islamic Chamber of Commerce and Industry (ICCI);
   4. Statistical, Economic and Social Research and Training Centre.
2. Islamic Development Bank (IsDB);
3. Asian Development Bank (ADB);
4. Economic and Social Commission for Asia and the Pacific (ESCAP);
5. Colombo Plan;
6. Africa-Asia Strategic Partnership;
7. Bangladesh, Iran, Kazakhstan, Kyrgyzstan, Pakistan, Tajikistan, Turkmenistan, and Uzbekistan are members of the Boao Forum for Asia (BOAO);
8. Afghanistan, Bangladesh, Iran, Iraq, Kazakhstan, Kyrgyzstan, the Maldives, Pakistan, Tajikistan, Turkmenistan, and Uzbekistan are members of the Asia-Middle East Dialogue (AMED);
9. Bangladesh, Iran, Kazakhstan, Pakistan, Tajikistan, and Uzbekistan are members of the Asia Cooperation Dialogue (ACD);
10. Organization for Cooperation between Railways (OSJD).

All the countries in the region are beneficiaries of the Arab Development Funds.

Interactions of the Central Eurasian Islamic Economic Area with the Western Civilization.

1. With the European Economic Area
   1. European Union
      1. Turkey has a Customs Union with the European Union;
      2. Afghanistan and Bangladesh are members of the Generalized System of Preferences. Pakistan and Turkmenistan are beneficiaries of the SGP+;
      3. Armenia is a member of the relations European Union-South Caucasus and the European Neighborhood Policy;
      4. Azerbaijan, Bangladesh, and Pakistan are beneficiaries of the European Investment Bank;
      5. Armenia, Azerbaijan are partners of the Eastern Partnership of the EU.
   2. Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkey, Turkmenistan, and Uzbekistan are members of the Economic Commission for Europe (UNECE);
   3. Turkey has a free trade agreement with the European Free Trade Association (EFTA).
2. With the American Economic Area
   1. Latin American
      1. Pakistan has a draft free trade agreement with the MERCOSUR;
      2. Iran has a free trade agreement with Venezuela;
      3. Turkey has a trade agreement with Chile.

Interactions of the Central Eurasian Islamic Economic Area with the African Civilization.

1. All the countries of Central Eurasia are part of the Africa-Turkey Partnership;
2. Asia-Africa Growth Corridor;
3. Pakistan has a Preferential Trade Area with Mauritius.

Interactions of the Central Eurasian Islamic Economic Area with the Hindu Civilization.

1. India has a Free Trade Agreements with Pakistan and the Maldives;
2. Bangladesh has an agreement with Nepal.

Interactions of the Central Eurasian Islamic Economic Area with the Orthodox Civilization.

1. Iran has a Free Trade Agreement with Armenia;
2. Azerbaijan:
   1. Has Free Trade Agreements with Georgia, Russia, and Ukraine;
   2. It is a member of the Free Trade Agreement with Georgia, Ukraine, and Moldova;
   3. It is a member of the Regional Organization for Democracy and Economic Development (GUAM) (Georgia, Moldova, and Ukraine. Turkey is an observer country).
3. Azerbaijan and Turkey are members of the Black Sea Economic Cooperation (BSEC) (Albania, Armenia, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, and Ukraine) and the Black Sea Synergy (Armenia, Georgia, Moldova, Russia, and Ukraine);
4. Kyrgyzstan has trade agreements with Armenia, Moldova, Russia, and Ukraine;
5. Tajikistan has Free Trade Agreements with Armenia and Ukraine;
6. Turkmenistan has Free Trade Agreements with Armenia, Georgia, and Ukraine;
7. Turkey has Free Trade Agreements with Macedonia, Bosnia and Herzegovina, and Georgia.

Interactions of the Central Eurasian Islamic Economic Area with the Buddhist Civilization.

1. Pakistan has a free trade agreement with Sri Lanka;
2. Bangladesh has an agreement with Sri Lanka.

Interactions of the Central Eurasian Islamic Economic Area with the Sinic Civilization.

1. Pakistan has a Free Trade Agreement with China.

Inter-civilization Agreements of the Central Eurasian Economic Area.

1. Pakistan has an agreement with the ASEAN;
2. Bangladesh is a member of:
   1. South Asian Association for Regional Cooperation (SAARC) (India, Myanmar, Sri Lanka, Thailand, Bhutan, and Nepal);
   2. Asia-Pacific Trade Agreement (APTA) (China, India, South Korea, Laos, Sri Lanka, and Mongolia).
3. Azerbaijan, Kazakhstan, Kyrgyzstan, Mongolia, Tajikistan, Turkmenistan, and Uzbekistan are members of the Organization for Security and Cooperation in Europe (OSCE);
4. Turkey has a free trade agreement with Israel.

(c) EENI Global Business School (1995-2023)
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