Research Information System
37th International Scientific Conference on Economic and Social Development - Socio Economic Problems of Sustainable Development, Baku, Azerbaijan, 14 - 15 February 2019, pp.665-671
One of the trends in the development of the modern world economy is the active integration processes. The conclusion of regional integration agreements is dictated by the desire of the participating countries to create favorable conditions for the implementation of the policy of expanded reproduction, improvement of quality and ensuring the competitiveness of domestic products. There are the following models for implementing the integration potential of countries. 1. The development of backbone industries of the participating countries. The task of the integration association is the coordination of the choice of the backbone sectors of the economy, the joint development of which will create an additional economic effect. 2. The joint development of mutually complementary branches of national economies in which there is production cooperation or there are potential opportunities for the formation of production chains. 3. Joint development of industries using the competitive advantages of the countries of the integration association. This goal is most relevant in the interaction of countries with different levels of development. 4. Development of industries of specialization based on the competitive advantages of the countries of the integration association. In the case when a country has a set of competitive advantages, sufficient saturation with the products of its market and the markets of the partner countries, then by agreement of the parties, the country's specialization in a particular production can be formed. 5. Joint development of import-substituting industries. The goal of the integration association is to identify and and agree on the list of industries and sectors with high potential for import substitution, in the development of which the countries of the association are interested in reducing economic dependence on foreign markets. 6. Development of infrastructure for the expansion of mutual and foreign trade.