Abstract
The devolution and disintegration of the former Soviet Union in 1991 propelled 15 new states into the global arena. Since independence, the states of Central Asia have embarked on different plans for transition to market orientation. Regional economic integration, particularly given the success of European Union (EU) and the North American Free Trade Agreement (NAFTA), is touted as a mechanism to increase bilateral trade, income level, and levels of economic development within participating states. Within Central Asia, integration, whether it takes the form of a free-trade area or a full economic union, is seen as a potential stimulus to regional trade and intra-regional economic development. This paper’s aim is to investigate the likelihood of successful economic integration within the region of Central Asia and what role Russia plays in this processes. The authors argue that Moscow’s regional project is still partly covering modernization project aiming to change the existed post-Soviet economies.