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May 28, 2022
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Eurasian economic integration in the era of global change

Forum in Bishkek – 2.5 thousand delegates from 15 countries

On May 26, 2022, the opening of the First Eurasian International Economic Forum took place in the capital of Kyrgyzstan, Bishkek, under the motto “Eurasian economic integration in an era of global change. New opportunities for investment activity”.

The Forum is an annual business event of the Eurasian Economic Union, held alternately in the EAEU state that presides over the bodies of the Union – the Supreme Eurasian Economic Council, the Eurasian Intergovernmental Council and the EEC Council.

The event has a wide scope. It provides for the participation of heads of large, medium and small businesses of the Member States and third countries, top officials of the Member States, heads and representatives of state authorities of the EAEU countries, heads and members of governments of third countries, representatives of international, scientific and educational organizations interested in the development of cooperation within the Union. In total, 2.5 thousand delegates from 15 countries of the world participate in the forum.

The objectives of the forum are the further development of economic cooperation, the formation of cooperative ties between the economic entities of the Member States, the achievement of a synergistic effect from the combination of investment and innovation potentials, and the development of exports.

The program provides for a plenary session with the participation of the heads of state of the Eurasian Economic Union, as well as six panel sessions. The plenary session was attended by President of Kyrgyzstan Sadyr Japarov, President of the Russian Federation Vladimir Putin, President of Kazakhstan Kassym-Jomart Tokayev, Prime Minister of Armenia Nikol Pashinyan, Prime Minister of Belarus Roman Golovchenko, Chairman of the Board of the Eurasian Economic Commission Mikhail Myasnikovich.

Speaking at the plenary session of the forum, V.V. Putin invited the member states of the Union to form a strategy for the economic development of the EAEU. “The time has come to form a comprehensive strategy for the development of a large Eurasian partnership, which should reflect the key international challenges facing us, as well as define long-term goals and contain tools and mechanisms to achieve them,” Putin said. The President of the Russian Federation added that it is necessary to consider further steps to develop a system of trade and investment agreements, including with the participation of the SCO, ASEAN and BRICS member states.

“Greater Eurasia is, without exaggeration, a great civilizational project, and the main idea is to create a common space of equal cooperation for regional organizations. The Great Eurasian Partnership is designed to change the political and economic architecture, to become a guarantor of stability and prosperity on the entire continent. It will be a center that will be of interest to many, – stressed the President of Russia. As part of the practical implementation of this idea, V.V. Putin suggested creating a Eurasian export center and trading houses, as well as exploring the development of cross-border special economic zones. “It is advisable to develop common [Евразийского] continent institutions on key growth points, including considering the creation of the Eurasian Export Center and trading houses, accelerating work on the formation of the Eurasian Reinsurance Company, exploring the development of cross-border special economic zones, perhaps even with supranational powers”, – said the head of the Russian state.

On May 26, as part of the business program of the Forum, a business dialogue was held by the EEC trade block on the topic: “Promising markets and opportunities for exporting EAEU products”. Here, a discussion took place on the main areas of deepening cooperation between the EAEU and third countries, including through the conclusion of new trade agreements, as well as on the problems of exporting goods of member states to third countries.

Participants of the panel sessions discussed issues of interaction in specific areas of cooperation. In particular, one of the panel sessions was devoted to considering the prospects for the strategic development of Eurasian integration in the era of global change; a number of discussions were organized here: “Strategy – 2025: Shaping the Image of the Future of the EAEU. New areas and areas of cooperation in the EAEU”, “Prospects for the internal market of the Union without obstacles. Ways of development”, “Eurasianism as an idea for uniting people. A look into the future”, “Interaction of the EAEU with promising international partners: mutually beneficial cooperation in Greater Eurasia”.

Another panel session addressed the issues of financial markets and development banks; the following topics were discussed: “The role of exchange-traded financial instruments denominated in the national currencies of the EAEU states in stimulating economic growth”; “Practical aspects of the formation of an integrated foreign exchange market in the EAEU space. Mechanisms for Direct Exchange Rate Formation of the National Currencies of the Union Member States”, “Ways to Expand the Use of the National Currencies of the EAEU Member States in Settlements in the Framework of Mutual Trade”, “International Experience in Implementing Targeted Assistance to Economic Development Programs. International programs and projects of inclusive development”.

Another panel session considered issues of industry and agro-industrial complex. The participants of this session discussed such topics as “Main areas of industrial cooperation: key trends, implementation tools, challenges and risks”, “Digital modernization of the EAEU agro-industrial complex”, “Technical regulation in the interests of people and business”, “EAEU jewelry agenda: results, perspectives and opportunities.

The issue of the fourth panel session was energy and transport infrastructure. This extensive block of problems included a number of subsessions: “The transport complex is the framework of Eurasian economic integration”, “Council of heads of authorized bodies in the field of transport”, “Prospects for creating energy corridors of the EAEU countries”, “Council of heads of authorized bodies in the field of energy”.

At the panel session on issues of the digital agenda, such areas of cooperation as “Electronic commerce: the backbone of the infrastructure of the single market of the EAEU”, “Digital development of the EAEU as a key to effective integration”, “Public reception” of the block on competition and antimonopoly regulation” were discussed, “Business Dialogue with Customs Services of the EAEU”.

Finally, the subject of consideration at the sixth panel session was new areas of interaction in the EAEU (“Tourism industry – a new round of expanding economic cooperation”, “Development of network forms of interaction in the implementation of educational programs of higher education”, “Strategy – 2025: the view of youth on the development of the EAEU”) .

In total, within the framework of the First Eurasian International Forum in Bishkek, 39 events were held, including 21 thematic sessions. As a result, 17 cooperation programs were signed in various areas, including the following:

  • Memorandum of cooperation in the implementation of the joint project of the EAEU states on the implementation of accelerated rail and multimodal transportation of agricultural products “Agroexpress”;
  • Strategic Partnership Program until 2025 between the EEC and the Eurasian Peoples’ Assembly;
  • Memorandum on the joint implementation of projects in the field of digital transformation between the EDB and the Ministry of Digital Development of Kyrgyzstan;
  • Agreement on the development of electronic trading platforms and a procurement system between the EAEU countries.

Photo: kremlin.ru

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