Trade Financing of the EAEU in Modern Conditions: Problems and Prospects

The dominant feature of modern financial relations is the high rate of innovation in both quantity and cost. In this regard, it is important to determine the impact of new technologies on the financing of trade relations of the EAEU, of which the Russian Federation is a member. In conditions of overcoming the consequences of military-political and epidemiological threats, innovations play an important role in increasing labor productivity and stimulating sustainable growth, primarily in the countries that are at the forefront of technological transformation of economic processes. The relevance of the study is due to the difficult period of development of traditional international trade in connection with the peculiarities of modern geopolitics of states that have entered into a competitive struggle at a new stage of the world economy. A wide “lockdown”, interrupted supply chains of goods and equipment increased the level of risk of export and import operations. The development of innovative financial technologies can reduce the risk of trade finance and create favorable conditions for the development of international trade. The subject of the study is the economy of trade relations of the EAEU as a special sphere of economic activity of economic entities in the period of digitalization, which creates a new product that ensures the sale of goods and services in the current conditions of cooperation of the interstate association. The purpose of the work is to identify and disclose the problems and prospects of using new technologies in ensuring trade financing of business entities of partner countries. Conclusions are drawn that digitalization is not an additional service, but a forced measure of trade finance administration along the entire chain of economic entities involved in international trade. The study was conducted on the basis of reliable general and specialized information, as well as theoretical methods such as analysis, synthesis, classification, generalization and analogy, as well as case methods that help identify the features of the use of innovations in ensuring trade financing of the EAEU.

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