Eastern Europe’s Market

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About Eastern Europe

Eastern Europe is lying between Central Europe and Western Asia. Countries in Eastern Europe include Armenia, Azerbaijan, Belarus, Bulgaria, Estonia, Georgia, Latvia, Lithuania, Moldova and Ukraine. Many countries of Eastern Europe joined the European Union like Bulgaria, Estonia, Latvia and Lithuania.

Eastern Europe's Economy

The economy of Eastern Europe are best described as transitional in that they are moving away from a centrally planned economy and towards a marketplace economic system. Eastern Europe is undergoing a transition from state-dominated economies to economies driven by the demands of the marketplace.

The challenge facing all of these countries is the need to completely integrate their economies with the rest of the world. The greatest advantage of the Eastern Europe market is the low cost of labor and the resultant lower price for goods and services. Foreign direct investment is expected to improve as many countries of Eastern Europe move toward membership in the European Union (EU).

Reference
Reference for Business - www.referenceforbusiness.com

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