Translartion. Region: Russians Fedetion –
Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.
Deputy Prime Minister Alexey Overchuk spoke at the plenary session of the International Economic Forum of the CIS Member States “New Impetus for the Development of the Greater Eurasian Partnership” held in Moscow.
From the transcript:
A. Overchuk: Good afternoon, dear colleagues!
Alexey Overchuk’s speech in the format of a video address at the plenary session of the International Economic Forum of the CIS Member States “New Impetus for the Development of the Greater Eurasian Partnership”
Thank you very much for the opportunity to share my thoughts on the development of the Greater Eurasian Partnership. The initiative to create the GEP was put forward by the President of the Russian Federation Vladimir Vladimirovich Putin in his Address to the Federal Assembly back in 2015. Everything that has happened in the world over the past 10 years convinces us that there is no alternative to this path.
We are witnessing a change in the world order around us. This transformation is based on a set of factors that have caused new problems and contradictions to emerge and have exacerbated old conflicts. As a rule, the underlying cause of any conflicts that humanity has faced in its history is always access to resources, including food, energy, raw materials, labor, and markets.
Every time history brought productive forces to a new level of development, humanity had a need for new resources. As a rule, this led to conflicts related to redistribution.
The modern transformation affects issues of food and energy security, as well as new technologies, the implementation of which requires intensive use of critical raw materials and rare earth elements. Their supply is quite limited, and therefore control over them is critically important for the implementation of a new technological turn and maintaining or acquiring leadership positions in the world.
The solution to the objective problems of our time requires approaches based on the mutual desire to build mutually beneficial relations and cooperation between sovereign states in the interests of the common good, well-being and security of peoples.
In this context, the initiative of the President of the Russian Federation Vladimir Vladimirovich Putin to form the Greater Eurasian Partnership is particularly relevant. It is designed to prevent the segmentation of international contacts, their disintegration into disparate blocks and structures, which reduces the overall efficiency of economic activity. The BEP will create a reliable material basis for ensuring sustainable economic growth – a seamless transport and logistics system, a self-sufficient payment architecture, a multilateral platform for innovative cooperation, a wide network of economic corridors.
The Russian leadership calls for the formation of a contour of equal and indivisible security, mutually beneficial, equitable cooperation and prosperity on the Eurasian continent in the foreseeable future. A special role in the new Eurasian system of security and development is given to issues of the economy, social well-being, integration and mutually beneficial cooperation, solving such problems as overcoming poverty, inequality, climate, ecology, developing mechanisms to respond to the threats of a pandemic and crises in the global economy.
The Eurasian centers of the multipolar world are based on integration projects, which, as a rule, are formed around large sovereign economies or geographic regions. In the post-Soviet space, integration is of a multi-level nature, which reflects a respectful attitude towards the readiness of individual countries to deepen bilateral and multilateral ties, as well as to participate in the creation of supranational regulatory instruments and the assumption of corresponding obligations. Here we are talking about the Union State of Russia and Belarus, the Eurasian Economic Union and the Commonwealth of Independent States.
Other integration projects taking shape around major economies and geographic regions of Eurasia include China’s Belt and Road Initiative, the Association of Southeast Asian Nations, the Gulf Cooperation Council, and the Organization of Turkic States.
In turn, the sovereign states of Eurasia participate in such system-forming structures as the Shanghai Cooperation Organization, as well as in BRICS and APEC, which go beyond the geography of Eurasia. It is obvious that these associations have the potential to develop into international platforms where joint decisions will be developed that affect the interests of integration entities formed around the large economies and geographic centers of Eurasia, and interaction with the countries of the global South and the Pacific Ocean basin will be carried out.
The result of the consolidation of efforts of all participating states and integration entities will be the Greater Eurasian Partnership, which in its essence will be an integration of integrations, giving impetus to sustainable development, socio-economic progress, the development and application of new technologies, the improvement of transport and logistics connectivity, as well as the strengthening of cultural and other ties between the peoples of Eurasia.
The implementation of this vision will require the convergence of integration projects based on the harmonization of regulatory requirements for financial markets, the conduct of fair multilateral trade and investment, the development of industrial cooperation and the formation of sustainable international value chains, the strengthening of the common contractual framework in matters of food and energy security, environmental protection, as well as the coordination of technological, information and communication, infrastructure and cultural development in Eurasia.
The construction of the BEP must be carried out in compliance with the principles of international law, respect for interests, consideration of regional and cultural characteristics and levels of development of individual participants, as well as decision-making based on consensus. This is the spirit that we are able to maintain within the Union State, the EAEU and the CIS, so these associations can become an example for developing the mechanisms of the BEP.
The CIS experience and its active involvement in the “integration of integrations” project are necessary for the successful development of Greater Eurasia. After all, within the Commonwealth, a solid regulatory framework and effective tools for the development of historically established trade, economic and humanitarian ties have been created. These developments can be applied throughout the Eurasian continent.
It is important that the association is in excellent shape, as evidenced by economic indicators. According to the CIS Statistical Committee, the growth of industrial production for January-October 2024 was 4.2%, the volume of freight traffic – 7.4%, retail turnover – 7.7%. The Commonwealth’s GDP for three quarters of 2024 compared to the same period in 2023 increased by 4.4%. Such successes were largely achieved thanks to the development of industrial cooperation, movement along the path of strengthening technological sovereignty based on science and innovation.
Our trade and economic relations within the Eurasian Economic Union are built in the logic of the values and ideas underlying the Greater Eurasia project. The EAEU’s commitment to unlocking its potential as one of the economic centers of the BEP is enshrined in the Declaration on the Further Development of Economic Processes within the EAEU until 2030 and for the Period up to 2045, “The Eurasian Economic Path”, adopted following the meeting of the Supreme Eurasian Economic Council in St. Petersburg on December 25, 2023. In this strategic document, the heads of state of the EAEU declared their desire to achieve by 2045 the transformation of the EAEU into a self-sufficient, harmoniously developed and attractive macro-region for all countries of the world, possessing economic, technological and intellectual leadership and maintaining a high level of well-being of the population of the member states.
Work in this area has a positive effect on economic indicators. Thus, in 2024, the EAEU GDP increased by 4.2%. For the EU, for example, the similar indicator, according to preliminary estimates, was only 0.8%.
The experience of the EAEU can also be a good support for building a space of well-being and prosperity in Eurasia. In particular, the elimination of non-tariff barriers in the EAEU by switching to uniform mandatory requirements for EAEU goods (uniform SPS requirements, uniform technical regulations), as well as the elimination of customs control annually for the period 2015-2023, provided a sustainable increase in the growth rate of the EAEU GDP in the amount of 14.5 billion US dollars. Mutual trade of the EAEU due to these measures was on average 24% higher.
The EAEU has already achieved significant success in the international arena. The dialogue is being strengthened based on memorandums of cooperation. Important steps in terms of forming the BEP have already been made based on such agreements with the secretariats of the SCO and ASEAN.
Free trade agreements have been concluded with Vietnam, Serbia and Iran. The latter has recently also become an observer state in the EAEU. The coordination of FTA agreements with a number of other countries is in the final stage. According to our estimates, entering into new FTA agreements could expand the preferential sales market for the union from the current 480 million people to almost 880 million people.
Dialogue with China is actively developing, with which the EAEU has created a solid basis for interaction in the form of two existing non-preferential trade agreements that underlie the integration of economic processes within the union with the One Belt, One Road initiative.
The joint search for new solutions and synchronization of the development of integration projects, as well as infrastructure initiatives, work for the benefit of regional interconnectedness, increase the weight of our economies, and form the basis on which a new architecture of global economic relations in Eurasia and beyond can be built.
Thank you!
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