Multidimensional Model of the Eurasian Economic Integration

The article substantiates the need for the relevant concept of Eurasian integration with respect to collective priorities of the EAEU in the field of economic development and modernization. The scope of research includes integration processes in the European Union and EAEU, their features and contradictions. We revealed distinctions in integration priorities: in the EU - efficiency and competition, in EAEU - modernization and economic development. The importance of technological and investment exchange for the growth of bilateral trade in the regional market of the CIS was proved on the basis of the gravity equation of trade and multiple regression. We stated that regional trade is an important factor for modernization of economy. The synergy effect of trade, investment and technological exchange can be achieved in regional value added chains. Integration policy within EAEU must include promotion of regional value added chains. The article contains valid conclusion about limitations of the linear model of the regional integration of the European Union and need to develop the multidimensional model of the Eurasian integration. Results of research are intended for scientific justification of integration policy of EAE