Russian Institute for Strategic Studies

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02.11.2015 News

RISS expert discusses economic integration of EAEU member states

On October 29, the Interanational Trade Center hosted a discussion of strategic oppotunities for cooperation in key economic sectors of EAEU member states in the course of Х International Conference «Eurasian Economic Integration», organised by the Eurasian Development Bank[1].

Conference agenda included diverse issues of futher interstate cooperation within Eurasian Economic Union. The event was attended by the heads of the Eurasian Economic Committee, national ministries, institutions and companies of the EAEU member states, representatives of scientific and business communities, foreign scientists and experts.

A word of welcome to the participants of the conference was given by the panel members of the Eurasian Economic Committee.

Conference agenda included both practical issues of integration of EAEU member states’ economies and theoretic provision of the accepted decisions.

The main discussion of the conference was held within the field-specific sections, dedicated to the issues of development infrastructure, industrial cooperation oppotunities, connecting EAEU and Silk Road Economic Belt (SREB), forming EAEU common financial market.

Special interest was drawn to EAEU and SREB discussion, which included leading research fellow of the RISS Center for Economic Research О.N.Larin, who made a report on development projects of transport systems in Caspian region and prospects to occupy it with transit cargo traffic accoding to implementation of the SREB project.

EEC representatives reported on the start of negotiations between expert groups of the EAEU and the PRC to draw up an agreement on EAEU and SREB pairing. Participants discussed the format of the international agreement and its content. Most probably it’ll be a framework agreement, which might include additional bilateral agreements between EAEU member states and PRC. All the more so as PRC representative said that strategically China is guided by bilateral project-oriented cooperation models with other countries.

Participants of the discussion also paid attention to the fact that China hadn’t announced its programming projects within the initiative of the Silk Road Economic Belt. The informative part of the Silk Road Economic Belt project might be announced at the next meeting of the National People’s Congress in March 2016. Thus, the abovesaid agreement is easier to conclude after PRC provide more information about the content of the global initiative «One Belt, One Road».

[1] Eurasian Development Bank is an international financial organization, established by the Russian Federation and and the Republic of Kazakhstan in January 2006 to facilitate the development of market economies, sustainable economic growth and expansion of mutual trade and economic ties in its member states. Member states include Armenia, Belarus, Kyrgyzstan, Tajikistan Kasakhstan and Russia.

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