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Sergei Glazyev, EEC Minister in charge of Integration and Macroeconomics, spoke about the importance of economic cooperation that meets the objectives of coupling the Eurasian integration project and the Chinese One Belt One Road initiative, as well as the processes of transition to new technological and global economic patterns in the Greater Eurasia at a seminar at the Chongyang Institute for Financial Studies, Renmin University of China, in Beijing on May 31.

"The level of integration achieved in the EAEU, addressing the tasks agreed at the highest level for the development of the Union until 2030 and for the period until 2045 make it front and center to the establishment of the Greater Eurasian Partnership," said Sergei Glazyev. Coupling of the EAEU and OBOR can become the core in establishing a new global economic paradigm. 

During the seminar, the EEC Minister explained the trends of structural changes in the global economy associated with the shift in technological and global economic patterns and showed their impact on the EAEU trade and economic relations with the new center of the global economy emerging in the PRC and Southeast Asia as a whole.

The seminar paid special attention to the need to eliminate emerging barriers to trade caused by difficulties in payments and settlements in the current geopolitical situation. Proposals to overcome them through the use of digital instruments, creation of specialized banks and alignment of national financial market infrastructures were substantiated. 

Sergei Glazyev emphasized that one of the fundamental factors in establishing the GEP is deepened dialogue between the leading economies and regional integration structures in the Eurasian space, including the EAEU, CIS, SCO and ASEAN. In modern realities, the format of inter-integration dialogue on reforming the international monetary and financial system, information security and the introduction of digital technologies is becoming an important component creating a new global economic paradigm.

Dr. Wang Wen announced further discussion at the university on taking responsibility for the future of the global economy and building a fair global governance system. These topics are in line with the ideas voiced by Chinese President Xi Jinping during his negotiations with Russian President Vladimir Putin in Beijing on May 16. Specifically, the participants emphasized the intention to continue close coordination and cooperation within the United Nations, BRICS, the Shanghai Cooperation Organization and other international multilateral platforms, as well as to support contacts on major international and regional issues, demonstrating the international role in promoting a fair system of global governance.