01.01.1970 (Обновлено: 27.11.2023 11:02)

Arzybek Kozhoshev: "Energy and transport have a discrete role in promoting the integration agenda aimed at improving economic stability of the EAEU countries"

This opinion was expressed by Arzybek Kozhoshev, Minister in charge of Energy and Infrastructure of the Eurasian Economic Commission, during his speech on November 15 at the plenary session of the Eurasian Business Forum "Integration-2023", dedicated to the theme "Greater Eurasian Partnership. Advanced Development Strategy".

Addressing the audience, Arzybek Kozhoshev informed on the EAEU integration agenda in energy and transport.


"The role and value of establishing common markets for the Union's energy resources, scheduled to be launched from January 1, 2025, grows significantly. Creating the common electric power market will open up the possibility for its participants to carry out cross-border trade in the Eurasian space, and the cost of electric power will be formed using exchange mechanisms, which will ensure its transparency," the Eurasian Minister noted.
It is obvious that the global processes of modern economic and social development are directly or indirectly related to energy resources, reliable access to which is the core priority of countries, being key to the prosperity of their economies and populations.


Arzybek Kozhoshev also noted that the EAEU states had adopted state programs for the “green economy” transition and the development of alternative energy: “Of course, energy prospects must take into account modern trends in the transition to low-carbon development, decarbonization, the primacy of the climate agenda, and ultimately, the diversification of energy sources and the development of new technologies.”
Transport systems of the EAEU countries demonstrate a high level of sustainability and stability in the context of creating new logistics chains and the need for accelerated infrastructure development. National infrastructure projects of the Union countries are focused on maintaining the functionality of combined transit transport corridors along the East-West route, as well as toward the Middle East and India within the North-South corridor using the potential of sea ports.
Arzybek Kozhoshev stressed the importance of digitalizing the energy and transport sectors of the EAEU countries' economy: "The efficiency of basic processes in the energy sector is steadily increasing due to digitalization, and information technologies will be widely used in the functioning of the Union's common energy markets". Rail transport takes the lead in digitalizing transport activities. For example, the industry forms the basis for an integrated technology for digital paperless rail transportation in import and export directions.

    In concluding his speech, the EEC Minister drew attention to the fact that any changes should be perceived as new opportunities for the EAEU countries' economic development and creating mechanisms for joint response to the challenges of modernity. In order to form a common space of development and prosperity, it is important that the EAEU development strategies should not be oriented towards competition, but towards rational interaction, ensuring the efficient use of common and national competitive advantages, energy and transport connectivity, as well as available infrastructure.