The global experience shows that economic integration is one of the most effective means of a country's economic development. The economy of a regional economic organization, after the establishment of a common labor and capital market, ceases to be merely the sum of national economies and moves to a higher level of competitiveness due to the utilization of the material, labor, and financial resources of the entire union, with the aim of accelerating the economic development of each country and the organization as a whole.

Sustainable development of the European economy and the entire global economy is only possible under conditions of coordination of the external economic policies of the USA, Germany, Great Britain, France, Italy, Canada, Japan, Brazil, Saudi Arabia, China, India, and Russia – the leaders of post-industrial, developing, and former socialist countries – as well as the increase in the role of the WTO, the United Nations, the IMF, the World Bank, and other international organizations aimed at regulating the global economy.

At the same time, the deepening of the opening of the global economy is accompanied by the strengthening of the interdependence of all countries and the increasing influence of each country, no matter how small, on the course of regional and global political and economic processes. Poverty poses a particular risk to peace and global security, as it serves as a means to increase international terrorism and exacerbate religious and transnational conflicts.

The necessity for upgraded governance of the economy in the expanding economic union under globalization objectively predetermines the inevitable qualitative change in the structure of the European Union, transitioning from the stage of economic and monetary union of sovereign states to a new type of pan-European political and economic inter-state formation in the future.