This paper aims to provide a coherent analysis of the economic impact accession to the Eurasian Economic Union has had on the economies of current member states and what affect membership would have on the economy of Azerbaijan. By applying a Linear Regression Model we find that membership to this regional bloc has yielded minimal financial benefits for the existing members. However, for most states, accession has increased the trade deficit with Russia and that a membership would likely produce a similar negative outcome for Azerbaijan in addition to undermining national economic and energy policy making.

The article analyses the process of EU enlargement with reference to the progress that Bulgaria and Romania have made within it. It is argued that leaving them out of the wave of accession finalised in May 2004 for ten of the candidate states, has placed them in a situation of double exclusion. Firstly, their geographical belonging to the region of Southeast Europe has been rendered non-essential by their advanced position within the EU enlargement process. Secondly, their achievement in economic and political transition has been removed from the progress of the ten states, which joined the EU in May 2004 by delaying the time of their accession. As a result, any efforts in regional cooperation and integration between Bulgaria and Romania on one hand, and other Southeast European states on the other, have been effectively cancelled. Moreover, in current European politics, the two countries have come to serve the unenviable role of exemplifying on the part of the European Union how progress is being awarded and hesitation punished.