Central Eurasian Economic Area

EENI- School of International Business

Subject (Course): The Central Eurasian Economic Area. Syllabus:

  1. Introduction to the Central Eurasian Economic Area as part of the Islamic Civilisation
  2. Islam as unifying factor of the Central Eurasian Economic Area
  3. Economic Profile of Central Eurasian countries
  4. Businesspeople in the Central Eurasian Economic Area
  5. Interactions of the Central Eurasian Economic Area with the economic areas of other civilisations
  6. Economic institutions related to the Central Eurasian Economic Area

Objectives of the subject “The Central Eurasian Economic Area”:

  1. To define the economic characteristics of the Economic Area of Eurasia Central
  2. To understand the influence of Islam in the Central Eurasian Economic Area
  3. To know the economic profile of the countries of Central Eurasia
  4. To understand the processes of economic integration in the Central Eurasian Economic Area
  5. To analyse the main businesspeople in Central Eurasia
  6. To explore the economic relationships with others economic areas of the different civilisations
  7. To analyse the economic institutions related to the Central Eurasian Economic Area
Subject “Central Eurasian Economic Area” is studied...
  1. Doctorates (Online): Religions and Business, Islamic Countries
  2. Masters: International Business, Muslim Countries, Asia, Economic Relations, and Emerging Markets

Languages of study:En or Fr Eurasie Es Espacio Eurasia Pt Civilizações

  1. Credits of the subject “Central Eurasian Economic Area”: 2 ECTS / 1 AC Credits
  2. Duration: two weeks

Eurasian Economic Union

Subject Description: 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 of the Central Eurasian Economic Area
  2. There are Orthodox Christian minorities
  3. This economic are covers European and Asian countries.
  4. The biggest economies are Turkey, Iran, and Pakistan. These three countries are trying to be the Central State.
  5. All Central Eurasian countries were former colonies (Soviet Union, the United Kingdom)
  6. Pakistan was part of India until the 1947 partition.

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: the Bonyads and the Islamic Revolutionary Guard

The integration in the Islamic Economic Area of Central Eurasia.

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

All the Muslim Countries of Eurasia are part of the Trade Preferential System of the Organisation of Islamic Cooperation (OIC-TPS)

  1. 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 does not yet benefit from the Trade Preferential System of the OIC.

Agreements and Institutions covering all the economic areas of the Islamic Civilisation.

  1. Agreements and institutions
    1. No country in the region is a member of the Arab League, and therefore no are member of the Greater Arab Free Trade Area
    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 (FTA) between 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 (FTA) with Algeria and Syria

Economic institutions related to the Central Eurasian Economic Area.

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

  1. Organisation of Islamic Cooperation (OIC) and therefore its affiliated institutions
    1. Islamic Centre for the Development of Trade
    2. Committee for Economic and Commercial Cooperation
    3. Islamic Chamber of Commerce and Industry
    4. Statistical, Economic and Social Research and Training Centre
  2. Islamic Development Bank
  3. Asian Development Bank
  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)

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

Interactions of the Central Eurasian Economic Area of the Islamic Civilisation with the Western Civilisation

  1. With the European Economic Area
    1. The European Union
      1. Turkey has the Customs Union with the European Union
      2. Afghanistan and Bangladesh are members of the Generalised System of Preferences. Pakistan and Turkmenistan of the SGP+
      3. Armenia is a member of the relations European Union-South Caucasus and the European Neighbourhood Policy
      4. Azerbaijan, Bangladesh, and Pakistan are beneficiaries of the European Investment Bank
    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 MERCOSUR.
      2. Iran has a free trade agreement with Venezuela
      3. Turkey has a trade agreement with Chile

Interactions of the Central Eurasian Economic Area of the Islamic Civilisation with the African Civilisation

  1. All the countries in Central Eurasia are part of the Africa-Turkey
  2. Pakistan has a Preferential Trade Area with Mauritius

Interactions of the Central Eurasian Economic Area of the Islamic Civilisation with the Hindu Civilisation

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

Interactions of the Central Eurasian Economic Area of the Islamic Civilisation with the Orthodox Civilisation

  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 Organisation 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 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-Herzegovina, and Georgia

Interactions of the Central Eurasian Economic Area of the Islamic Civilisation with the Buddhist Civilisation

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

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

  1. Pakistan has an FTA with China

Inter-civilisation 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, Korea, Laos, Sri Lanka, and Mongolia)
  3. Azerbaijan, Kazakhstan, Kyrgyzstan, Mongolia, Tajikistan, Turkmenistan, and Uzbekistan are members of the Organisation for Security and Cooperation in Europe (OSCE)
  4. Turkey has a free trade agreement with Israel

Samples - Eurasia

Turkic Council

Islamic Revolutionary Guard

Kyrgyzstan Business

Dewan Yousuf Farooqui

Business in Turkey

Baku Business

Salman F Rahman (Bangladesh)

Muhammad Yunus Bangladesh

Mauritius-Pakistan Trade Area

Maldives Business

Tajik Aluminium Company

Central Asia Economic Cooperation

Koç Holding Turkey

  1. Economic Integration of the Islamic Civilisation
  2. Interactions of the Islamic Civilisation with other civilisations


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