Integration and Macroeconomics

Member of the Board - Minister in charge of Integration and Macroeconomics Sergei Glazyev

News on «Integration and Macroeconomics»

10 Jun 2024 Sergei Glazyev: “The Greater Eurasian Partnership is a driver for forming a new world economic order” The economic development opportunities of the Eurasian Economic Union in the changing world order were outlined by Sergei Glazyev at the session “Polycentricity as the Norm of a Future World without Colonies and Hegemons” held on June 8 as part of the 27th St. Petersburg International Economic Forum. The EEC Minister said that the integral world economic order is coming into effect, which will determine the world economic development for the next 40-50 years. “An order has already been formed in Southeast Asia, which is very attractive to all other regions and countries. For example, about 2/3 of the world's countries have already joined the Chinese Belt and Road initiative, and this interaction is only strengthening and expanding before our eyes,” Sergei Glazyev noted. The EEC Minister also emphasized that the EAEU develops in accordance with the principles of the Greater Eurasian Partnership, which are in line with the guidelines of the new integrated world economic order. “Mutual benefit, voluntary involvement, respect for national sovereignties, transparency and a combination of concrete benefits are the inherent principles of this new type of integration. Coupling the EAEU with the Belt and Road initiative forms the core of the new world economic order,” the EEC Minister said. During his speech, Sergei Glazyev presented the Report on opportunities for the EAEU economic development, reflecting the EAEU potential amidst the turbulence of the global economy and geo-economic shifts.
07 Jun 2024 EAEU and SELA intend to deepen dialogue The issues of intensifying cooperation on a wide range of economic agenda were discussed during a working meeting between Sergei Glazyev, Minister in charge of Integration and Macroeconomics of the Eurasian Economic Commission, and Clarems Endara Vera, Permanent Secretary of the Latin American and Caribbean Economic System (SELA), on June 6 on the sidelines of the 27th St. Petersburg International Economic Forum. The parties discussed the coinciding guidelines for developing the two associations, as well as the high potential for cooperation in a number of economic areas. “Our Union is actively developing cooperation with many EAEU countries – Cuba is the Observer State at the EAEU, a Memorandum of Interaction has been signed with Nicaragua, a Memorandum of Understanding between the EEC and the SELA is in force, which, by the way, was signed on the sidelines of the SPIEF in 2018. Our structures have all the necessary institutional framework for further deepening of the dialogue,” Sergei Glazyev emphasized. Clarems Endara Vera informed on the current state of trade within the SELA, interaction with international partners and promising areas of cooperation with the EAEU countries. “The EAEU is a successful integration project, many of the Union's achievements can be applied in the SELA as well. We would propose to establish an exchange of experience in the field of statistics in terms of studying the depth of integration processes and their impact on the competitiveness of the Member States' economies,” the Permanent Secretary commented.  Clarems Endara Vera emphasized the interest in dialogue on public procurement regulation, inviting the EEC to make a presentation on these issues at the Skills Forum to be held in August 2024 in Honduras. He also expressed interest in joint expert discussions on measuring the effects of integration, supporting further practice of holding joint thematic seminars in 2024. In turn, Sergei Glazyev invited the SELA representatives to take part in the 3rd Eurasian Economic Forum in September 2024. The Latin American and Caribbean Economic System (SELA) is an economic community of Latin American countries that was created in 1975 and unites 26 Latin American States: Argentina, Barbados, Bolivia, Brazil, Venezuela, Haiti, Guyana, Guatemala, Honduras, Grenada, Dominican Republic, Columbia, Costa Rica, Cuba, Mexico, Nicaragua, Panama, Paraguay, Peru, Salvador, Suriname, Trinidad and Tobago, Uruguay, Chili, Ecuador, and Jamaica. The SELA supreme body is the Latin American Council, convened annually. The organization's day-to-day operations are managed by a Permanent Secretariat. Working committees are established to implement specific economic programs.
07 Jun 2024 Sergei Glazyev at SPIEF-2024: “The EAEU does the groundwork for creating the integration framework of the Greater Eurasian Partnership” Current challenges of economic interaction between the Greater Eurasia countries, practical implementation of the “integrating integrations” concept and filling the unifying agenda in Eurasia were discussed by participants of the session “The Greater Eurasian Partnership as a New Pole of Growth: Potential and Prospects” held on June 6 as part of the 27th St. Petersburg International Economic Forum. Sergei Glazyev, Minister in charge of Integration and Macroeconomics of the Eurasian Economic Commission, took part in the session. “The EAEU development as one of the economic centers of the Greater Eurasian Partnership is recorded among the priority objectives of the Declaration on Further Development of Economic Processes within the EAEU until 2030 and for the period until 2045,” Sergei Glazyev stated. He also noted the EAEU's contribution to forming the “integration framework” of the GEP, speaking about the development of interaction with the ASEAN, SCO and other structures in the region. In terms of the GEP concept's functionality, Sergei Glazyev singled out several key areas, including the creation of a fair system of currency and financial relations, the formation of a common exchange space, joint transport infrastructure and an information security system. “The Greater Eurasian Partnership is becoming the basis for forming a new world economic order,” Sergei Glazyev summarized. During the session, Khan Sohail, Deputy Secretary General of the SCO, noted that the dialogue between the SCO and the EAEU develops on a constructive and mutually respectful basis and contributes to synchronizing integration efforts to form a multipolar world order. During the discussion, their vision of the prospects for implementing the Greater Eurasian Partnership concept was presented by Alexander Pankin, Deputy Minister of Foreign Affairs of the Russian Federation; Dmitry Volvach, Deputy Minister of Economic Development of the Russian Federation; Alexander Shokhin, President of the Russian Union of Industrialists and Entrepreneurs; Konstantin Zatulin, First Deputy Chairman of the State Duma Committee of the Federal Assembly of the Russian Federation for CIS Affairs, Eurasian Integration and Relations with Compatriots, Karin Kneissl, Head of the SPbU GORKI Centre, and Nenad Popovic, Minister of the Government of the Republic of Serbia.
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