Russia among the Countries of the Baltic Region

Gennady M. Fedorov, Valentin S. Korneevets, Ilya N. Tarasov and Vladimir I. Chasovskiy
Additional contact information
Gennady M. Fedorov: Department of Urban Planning, Land Management and Design, Institute of Environmental Management, Urban Development and Spatial Planning, Immanuel Kant Baltic Federal University, Russia,
Valentin S. Korneevets: Department of Socio-Cultural Service and Tourism, Institute of Recreation, Tourism and Sports, Immanuel Kant Baltic Federal University, Russia,
Ilya N. Tarasov: Department of Politics, Social Technologies and Mass Communications, Institute for Social Sciences, Humanities and Communication, Immanuel Kant Baltic Federal University, Russia,
Vladimir I. Chasovskiy: Department of Geography, Land Use and Spatial Planning, Institute of Environmental Management, Territorial Development and Urban Construction, Immanuel Kant Baltic Federal University, Russia.

International Journal of Economics and Financial Issues, 2016, vol. 6, issue 4, 1502-1506

Abstract: The Baltic region incorporates interactions of eight European Union (EU) countries and the Russian Federation. It is composed of Sweden, Denmark, Finland, Lithuania, Latvia, and Estonia, as well as the territories of Russia, Germany and Poland located on the Baltic coast. Subjects of the Russian Federation located in the Baltic region account for 16% of the territory, 20% of the population, and 15.5% of gross domestic product (GDP). An even bigger role is of Russia at the national level among the countries of the Baltic region. It accounts for 91% of the territory, 50% of the population, 38% of GDP and 14% of foreign trade turnover of nine countries combined. New spatial forms of cooperation are being formed with Russian participation Euro regions, cross-border clusters. International cooperation increases the global competitiveness of each of the participating countries. The development gap has decreased between more and less wealthy countries. However, in the past few years, the relationship between the EU and Russia has deteriorated. In 2014-2015 Russia's trade with the countries of the region decreased more than with other EU countries and the world. The mutual and social ties decreased. This is not conducive to socio-economic development of both Russia and the EU, and it is in the interest of both parties to abandon the growing confrontation.

Keywords: International Regionalization; Baltic Region; Baltic Countries; European Union; Russia (search for similar items in EconPapers)
JEL-codes: F15 F36 F42 F55 (search for similar items in EconPapers)
Date: 2016
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