EDB member states to discuss integration in Moscow

MOSCOW. KAZINFORM The 12th international conference Eurasian Integration kicks off in Moscow on 31 October, BelTA reports.

The first stage of the Eurasian economic integration, which resulted in considerable headway in a number of areas, has been completed. It included the formation of the common customs space, a developed system of institutes and the common labor market. The conference will mark a strategically important period of the Eurasian Economic Union "growing-up" and has gathered experts, including representatives of ministries, big banks, and funds, from Russia, Kazakhstan, and Belarus.

The participants of the plenary session will consider whether it is now possible to talk about "Integration 2.0", i.e. the complementation of trade cooperation with integration in finance, investment, infrastructure, foreign economic and humanitarian cooperation. The key topics for discussion will be the internal problems of the EAEU, investment infrastructure projects, the financial sector, and humanitarian cooperation. Experts will consider the preparation for and implementation of infrastructure projects. Chief economists will determine challenges and prospects for the overall economic development of the EAEU member countries. The Eurasian Development Bank will present its opportunities and integration projects.

The Congress of the Eurasian Mass Media and an official ceremony award the winners of the third open contest for the best media publication "Eurasian Integration and Development - 21st Century" will take place on the evening of 31 October.

The Eurasian Fund for Stabilization and Development to the total amount of $ 8.513 billion was instituted by Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan in 2009. The major goals of the Fund are to assist the participating countries in overcoming the consequences of the global financial crisis, ensuring their economic and financial stability and supporting the integration processes in the region.

The Eurasian Development Bank (EDB) is an international financial organization. It was established by Russia and Kazakhstan in January 2016 with a view to contributing to the development of the market economies of the participating states, to their sustainable economic growth, and the expansion of mutual trade and economic ties. The EDB's charter capital stands at $7 billion. The EDB member states are Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan.