28 May 2024 Sergei Glazyev: “The EAEU and China are forming a new contour of regional economic development” Trade and economic cooperation, technological innovation and green development were the focus of attention at the China Overseas Investment Fair held on May 27-28 in Beijing. The event was attended by Sergei Glazyev, Minister in charge of Integration and Macroeconomics of the Eurasian Economic Commission. The Minister informed on the EAEU achievements, which is one of the most dynamically developing integration associations in the world. As of year-end 2023, the aggregate growth of the EAEU GDP reached 3.7%, which is higher than the global average. “Amid the unprecedented transformation of the global economic architecture and the formation of a new technological and global economic paradigm, cooperation between the Eurasian Economic Union countries and China acquires a strategic character and has great prospects. In fact, the EAEU and China are forming a new contour of regional economic development”, Sergei Glazyev stated. The thematic round table “The Eurasian region presents new economic opportunities” discussed in detail the issues of coupling the Eurasian integration project and the Chinese Belt and Road Initiative. According to the EEC Minister, the rapid growth of trade turnover between the EAEU and the PRC has become sustainable, but it requires the development of cooperation and joint investments to maintain it. The EAEU economic growth potential exceeds 25% and is particularly high in the fuel and energy complex, agricultural sector, forest industry complex and high-tech industry. The round table was attended by representatives of the diplomatic corps, scientific and expert circles, as well as business communities of the EAEU countries and the PRC. Cooperation between the EEC and the Government of the PRC is carried out within the Agreement on Trade and Economic Cooperation between the Eurasian Economic Union and its Member States, on the one part, and the People's Republic of China, on the other part. The China Foreign Investment and Cooperation Fair is approved by the State Development and Reform Committee of the People's Republic of China. Representatives from more than 100 countries and thousands of entrepreneurs traditionally take part in the Fair sessions; exhibitions are organized and contractual documents are signed on the sidelines of the event. The China Fair has become an efficient way for participants to get information about international investment and trade and economic projects, as well as an important platform for developing international cooperation in the joint “Belt and Road” construction.
28 May 2024 EAEU and Costa Rica interested in developing economic cooperation The prospects for intensifying interaction were discussed by Valentina Yanutenok, Deputy Director of the EEC Integration Development Department, and Randolph Coto Echeverria, Chargé d'affaires of the Republic of Costa Rica in the Russian Federation. The working meeting was held on May 28 at the EEC’s headquarters. “Today we are holding the first working meeting with the Republic of Costa Rica at the bilateral level, and it seems important for us to establish contacts with one of the leading countries in Central America, which has achieved significant success in economic development,” the EEC representative emphasized. In turn, Randolph Coto Echeverria noted the need to develop economic ties between Costa Rica and all the EAEU countries, and in this regard, expressed interest in obtaining comprehensive information on the Union's regulation documents with a focus on such areas as customs regulation and SPS measures. They also discussed the development of cooperation in a broader context — as part of implementing the Memorandum of Understanding between the EEC and the Secretariat for Economic Integration in Central America (SIECA), of which Costa Rica is a member. “As a further step to deepen cooperation between the two regional structures, we propose to organize a joint seminar between the EEC and SIECA to exchange integration experiences, which will enable us to learn more about each other's economic opportunities,” Valentina Yanutenok said. The representative of the Embassy of the Republic of Costa Rica welcomed the initiative to organize such an event and stated that Costa Rica, chairing SIECA in H1 2025, will contribute in every possible way to deepen the dialogue between the two integration structures. The meeting attendees also discussed possible participation of representatives of the Republic of Costa Rica in key congress and exhibition events held in the EAEU countries. Following the meeting, the representatives of the EEC and Costa Rica agreed to maintain regular contacts and organize industry events on issues of mutual interest.
22 May 2024 EAEU and Mongolia strengthen trade and economic interaction and expand cooperation Intensifying trade and economic cooperation between the EAEU countries and Mongolia was discussed at the scientific conference “Prospects for developing trade, economic and investment cooperation between Mongolia and the EAEU countries” on May 21 in Ulaanbaatar. The plenary discussion was addressed by Sergei Glazyev, Minister in charge of Integration and Macroeconomics. “Mongolia became the first State among third countries to formalize contacts with the Eurasian Economic Commission in 2015, having concluded the relevant Memorandum,” Sergei Glazyev said. “Next year it will be 10 years since the systematic work of the EEC and the Government of Mongolia was launched, the purpose of which is to promote the development of comprehensive cooperation between the Union countries and Mongolia, as well as to increase the efficiency of mutual trade and the implementation of measures aimed at eliminating barriers hindering its development”. The EEC Minister also noted that implementing the Memorandum encouraged the development of sector-specific interaction between the EEC and the Mongolian state administration bodies, primarily in the fields of technical regulation and SPS-measures, and provided the groundwork for the work on preparing a temporary trade agreement between Mongolia, the Union and the EAEU Member States. According to the EEC Minister, the key objectives for the near future include the intensification of work on eliminating barriers to developing trade and economic cooperation between the EAEU and Mongolia. He emphasized the importance of transiting to national currencies when making payments, using own payment and settlement platforms, reviving cooperation ties and building up joint investments through establishing joint ventures in geological exploration, mining, processing of raw materials, as well as implementing infrastructure and transport and logistics projects. “The problem of trade imbalance can be compensated by increasing cooperation ties, establishing joint ventures in Mongolia and investments by corporations from the EAEU,” Sergei Glazyev summarized. These and other issues of trade and economic cooperation will be the focus of attention of the joint Working Group on interaction between the EEC and the Government of Mongolia, created in accordance with the above Memorandum. The Working Group actively involves not only representatives of the EEC and Mongolian state administration bodies, but also representatives of interested ministries and agencies, as well as business circles of the EAEU States. The event was organized by the Russian Academy of National Economy and Public Administration under the President of the Russian Federation. The conference was attended by representatives of the diplomatic corps of the EAEU Member States, public authorities, business circles and academia of the EAEU States and Mongolia.
17 May 2024 EAEU countries show keen interest in integration projects The collection of applications for the competition of joint large-scale high-tech and humanitarian projects “Symbols of Eurasian integration”, organized by the Agency for Strategic Initiatives jointly with members of the consortium of the Eurasian Economic Union's development institutions with organizational and informational support of the Eurasian Economic Commission, has been completed. The competition is aimed at identifying technologically advanced, and competitive projects that are implemented with the involvement of representatives of several Member States. 257 projects were submitted for consideration (3 projects from Armenia, 24 projects from Belarus, 6 projects from Kazakhstan, 14 projects from Kyrgyzstan, and 210 projects from Russia). These include 137 technological projects, and 120 humanitarian projects. “Following the collection of applications, we can state the significant interest of participants in integration projects within the Eurasian Economic Union,” noted Sergei Glazyev, EEC Minister in charge of Integration and Macroeconomics. In terms of technological projects, the largest number of applications were submitted in the categories: “Transit Potential”, “Technological Sovereignty” and “Digital Platform Solutions”. Projects were also accepted in the following categories: “Technologies of Basic Industries”, “New Technological Wave”, “Human Capital”, “Eurasian Tourism”, and “Financial Inclusion”. They include initiatives to develop and implement technologies for various industries, including laser systems, information and telecommunications, intelligent and management systems, research and production complexes, competence centers, as well as the manufacture of biopharmaceuticals, food additives and various materials. “We have seen great interest from the business community, public authorities, and citizens of the EAEU countries. This means that the “Symbols of Eurasian Integration” competition is truly relevant and necessary,” emphasized ASI Head Svetlana Chupsheva. By the end of June this year, the experts and the presidium of the competition will have to evaluate the finalists and determine the winners of the competition in each category. The awarding of the winners will be timed to coincide with one of the significant events in the EAEU States' integration agenda in H2 2024.
17 May 2024 EEC starts developing new program of Eurasian integration in statistics The main directions of developing the Eurasian integration in the field of statistics up to 2030 were discussed by experts from the authorized bodies of the Eurasian Economic Union countries, international organizations and the scientific community at a seminar chaired by Sergei Glazyev, EEC Minister in charge of Integration and Macroeconomics, held in Moscow at the venue of the Eurasian Economic Commission. The seminar was organized by the Commission jointly with the Plekhanov Russian University of Economics. Sergei Glazyev has noted that the Program for developing integration in the field of the EAEU statistics is coming to an end next year, and today a new strategic action plan in this field should be developed jointly with the business and expert community. Every effort should be made to provide users with up-to-date, relevant data that meets today's challenges. The event was about the use of new opportunities for data collection in the context of global digitalization and, in fact, the formation of a roadmap for developing statistics within the Union until 2030, with due regard to the provisions of the Declaration on further development of economic processes within the EAEU “The Eurasian Economic Path”. The main topics for discussion included the harmonization of statistical methodology in the era of data evolution, modernization of digital infrastructure, integration of statistical and geospatial information, use of alternative sources of information and artificial intelligence tools for data collection, visualization and analysis. These particular aspects formed the basis for the priority directions of the Concept of the Program for developing integration in the field of the EAEU statistics for 2026-2030, which the Commission started to elaborate jointly with the Union countries.
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