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Jun 5, 2022
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“If there were no sanctions, they would have to be invented”

Bishkek talks about prospects for Eurasian integration

On May 26, 2022, within the framework of the First International Eurasian Forum, held in Bishkek, one of the panel sessions was devoted to considering the prospects for the development of Eurasian integration in an era of global change. This session was especially significant because it was moderated by the Chairman of the Eurasian Commission M.V. Myasnikovich, and the speaker was a member of the Board (Minister) for Integration and Macroeconomics of the EEC S.Yu. Glazyev.

The key topic of the discussion was formulated as follows: “Strategy – 2025: Shaping the image of the future of the EAEU. New spheres and directions of cooperation in the EAEU”. Speaking at the opening of the session, M. Myasnikovich noted: “Despite the obvious achievements of recent years and the obvious intensification of the Union’s mutual trade, union building can be more active and large-scale. To do this, we must strive to use new integration tools and be efficient in decision-making in order to ensure the effective growth of national economies and the Union as a whole. Cohesion, complementarity and mutually beneficial specialization will provide goods and services to the domestic market and competition in far-arc countries.. The Chairman of the Eurasian Commission suggested discussing the tasks, taking into account the wide involvement of authorities, businesses, citizens of the Union countries, and foreign partners in the work.

The special guest of the meeting was the Secretary General of the Shanghai Cooperation Organization (SCO) Zhang Ming, as well as heads of ministries and departments of the EAEU countries, representatives of scientific circles, business associations.

Members of the Council of the Eurasian Economic Commission and vice-premiers of the five countries made presentations at the session: Mher Grigoryan, Igor Petrishenko, Bakhyt Sultanov, Arzybek Kozhoshev, Alexey Overchuk.

Deputy Prime Minister of the Russian Federation Alexey Overchuk in his speech, he emphasized that the time has come when it is necessary to rethink the new reality in terms of the risks that have emerged both during the “pandemic” period and as a result of the unprecedented sanctions pressure on Russia and its allies. “We also see problems with energy resources that arise in the world and are ready to continue working on the formation of common energy markets. It is necessary to deal with security issues, strengthen the coordination of the regulation of food markets in order to protect our population from possible negative environmental influences. It is equally important to develop financial markets, focus on the widespread introduction of an independent payment system and the creation of a single currency area, which will allow all EAEU countries to continue their work calmly.”Overchuk emphasized. Among other tasks is the strengthening of transport and logistics ties, primarily the intensification of work on pairing the EAEU and the Chinese One Belt, One Road initiative, as well as digital development, which will allow us to keep up with the whole world.

The Secretary General of the Shanghai Cooperation Organization (SCO) spoke about the high potential of cooperation with the Eurasian Economic Union Zhang Ming.

Minister for Integration and Macroeconomics of the EEC Sergey Glazyev noted that the negative trends caused by the sanctions and the break in the entire structure of relations with the Western world are not catastrophic: “…we see the possibility of maintaining our benchmarks at a level above the world average. We have our own sufficient potential for import substitution. Our economy is strong because we are a leader in most commodities.”.

Vice Prime Minister of the Republic of Armenia Mher Grigoryan emphasized that digital transformation is a strategic, anchor priority, since the development of this area concerns not only the public sector, but also the private sector. “From this point of view, we have come to understand that the digital agenda will evolve if we can make reforms in the logic of transition from the concept of digital government to the development of a digital society and digital economy”– Mher Grigoryan noted, adding that Armenia is ready for effective interaction and participation in the promotion of joint digital projects.

Deputy Prime Minister of the Republic of Belarus Igor Petrishenko believes that sanctions are not only damage, but also opportunities for strengthening cooperation with allies. “A more coordinated activity of our “five” will help to deepen cooperation and level out the risks of oversaturation of similar products and tougher competition in the domestic market. The implementation tools are the creation of a common list of commodity items for import substitution and the development of a set of measures to promote import substitution… development of a strategic program for the scientific and technological development of the EAEU”.

Deputy Prime Minister – Minister of Trade and Integration of the Republic of Kazakhstan Bakhyt Sultanov noted the priority of technological development and digitalization of manufacturing industries, emphasizing the complementarity of the Kazakh Strategy for Industrial and Innovative Development and the Strategy-2025 of the Eurasian Economic Union. “Both programs involve stimulating exports, developing the production of high-tech and innovative industrial products, ensuring the quality and safety of goods, as well as increasing digital cooperation at the global and regional levels. The implementation of the Union’s Strategy today has already made it possible to make significant progress on a number of issues, the solution of which took years”Bakhyt Sultanov noted.

At the end of the thematic session, the Secretary General of the Eurasian Peoples’ Assembly Andrey Belyaninov launched several initiatives: “If there were no sanctions, they would have to be invented. The world order is crumbling. We see several solutions to counter this. Among such decisions are the creation of the Eurasian Direct Investment Fund, the Eurasian Development Bank, the Eurasian Reinsurance Company with state participation and the Eurasian Leasing Company».

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