After the collapse of the Soviet Union, the post-Soviet area moved from the periphery of the world economy into a new centre of political and economic influence. Today, the concept of pragmatic (economic) Eurasianism by N.Nazarbayev plays a paramount role in the development of integration processes in Eurasia. One of the newest initiatives of Eurasian integration is the Eurasian Economic Union (EAEU), which functions today in a five-side format, comprising Russia, Belarus, Kazakhstan, Kyrgyzstan, and Armenia. However, conflict of interests, differential economic development among member states, and institutional problems often complicate the various processes of integration. On the other hand, with measures like harmonizing of national legislations, improved communication between countries at all levels, unification of trade policies, and enhanced control over domestic market in place, the EAEU countries also represent the newest competitive players in the world arena.