Trade disputes prevention on agenda of Eurasian Week in Bishkek
The program of the forum will include the panel discussion «The EAEU:
integration into the global market and opportunities in the Asia-Pacific
region» on 25 September. «At present, the EAEU member states seek to capitalize
on the achieved integration of their economies into the global market.
Expanding into the Asia-Pacific region is promising as the region comprises
steadily developing economies with a growing demand. Taking into account the
growing potential of this region, we should define new vectors to expand mutual
presence in markets, find factors which promote cooperation and trade. All
these matters will be discussed at the forum,» said Veronika Nikishina, Member
of the Board (Minister) for Trade of the EEC.
Participants of the panel discussion are also set to identify
commodity and services markets with the greatest growth prospects and the best
opportunities to increase merchandise export. Also high on the agenda will be
ways to address problems of overproduction to prevent trade disputes and avoid
risks of hampering economic development in cooperation with the Asian-Pacific
countries.
Invited to take part in the panel discussion are Belarus
Economy Minister Dmitry Krutoi, Armenia Minister of Economic Development and
Investments Tigran Khachatryan, Kazakhstan Minister of Trade and Integration
Bakhyt Sultanov, Kyrgyzstan Minister of Economy Sanzhar Mukanbetov, Belarus
First Deputy Minister of Foreign Affairs Andrei Yeudachenka, Director General
of the Russian Export Center Andrei Slepnev, President of the Kyrgyz Union of
Industrialists and Entrepreneurs Danil Ibraev, President of the Korea Institute
for International Economic Policy Lee Jae-Yeon, Deputy Secretary-General for
ASEAN Economic Community Aladdin Rillo, Secretary General of the Shanghai
Cooperation Organization Vladimir Norov, China Vice Minister of Commerce Wang
Shouwen, and others.
The EEC noted that since its foundation the EAEU has pursued
an open policy of integrating into the multilateral trading system and using
regionalization to come onto new markets. Mutual trade between the EAEU member
states and the Asia-Pacific countries constantly grows and exceeded $294
billion in 2018, amounting to almost 40% of the total EAEU trade. In October
2016, the EAEU signed a free trade agreement with Vietnam and is currently
working to sign similar agreements with Singapore and India. A trade and
economic cooperation agreement between the EAEU and China will come into force
soon. The EAEU has also concluded memoranda of cooperation with Bangladesh,
Cambodia, the Republic of Korea, Peru, Thailand, Chile, and Ecuador.
The Eurasian Week is an annual event held by the EAEU member
states and the EEC in line with the decision of the EAEU countries' prime
ministers of May 2015. The event comprises business events and an exhibition.
The first forum took place during the Moscow International Forum Open
Innovations in Russia in October 2016. The second forum was held as part of
Expo 2017 in Astana, Kazakhstan in August 2017 and was named one of the 18 most
significant events of Expo 2017. In 2018, the Eurasian Week was hosted by
Yerevan, Armenia and drew around 3,100 representatives of government bodies,
the private sector, and expert community of the EAEU, Singapore, the EU, the
Republic of Korea, Chile, Vietnam, Egypt, Iran, and other countries.