Role of economic integration as a basis for cooperation of middle east countries in the terms of globalization

Basem, Abudavud and Басем, Абудавуд (2015) Role of economic integration as a basis for cooperation of middle east countries in the terms of globalization. Вісник Донецького університету економіки і торгівлі імені Михайла Туган-Барановського (1(62)). pp. 31-37. ISSN 2079-4819

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Abstract

The goal of the article is to identify the role of economic integration for the countries of Middle East in the terms of globalization. Methods. The study is based on the dialectical method of knowledge and systematic approach. Basic scientific results obtained using the complex scientific and special methods of investigation, namely the systematization and generalization (to justify the Вісник Донецького університету економіки і торгівлі імені Михайла Туган-Барановського ISSN 2079-4819, ВІСНИК ДонНУЕТ №1 (62) 2015 37 essence of economic integration), the abstract logic analysis (to justify the role of economic integration for Middle East countries and the impact of it on the characteristics of their development). Results. The article presents approaches to the definition of economic integration. The basic prerequisites and consequences of integration for the countries of the Middle East are presented. It is consider some of the existing integration agreements, special attention is given to the Barcelona process. It is proved that economic cooperation and integration could help address the political, social and economics problem of the region by boosting growth, fostering diversification, and stimulating employment. In particular, trade and foreign direct investment matter for generating the jobs that the region so badly requires. Scientific novelty. Further developed systematization of approaches to the definition of ‘economic integration’ is presented. In addition, based on the analysis of the current state of political, social and economic development of the Middle East it is grounded еру need to deepen integration, its advantages are revealed. The practical significance. The practical significance of the study is evaluation the economic integration advantages for development in the Middle East, which can be used in the development of cooperation programs, including with the participation of Ukraine.

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