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-Pacificregion» on 25 September. «At present, the EAEU member states seek to capitalizeon the achieved integration of their economies into the global market.Expanding into the Asia-Pacific region is promising as the region comprisessteadily developing economies with a growing demand. Taking into account thegrowing potential of this region, we should define new vectors to expand mutualpresence in markets, find factors which promote cooperation and trade. Allthese matters will be discussed at the forum,» said Veronika Nikishina, Memberof the Board (Minister) for Trade of the EEC.
Participants of the panel discussion are also set to identifycommodity and services markets with the greatest growth prospects and the bestopportunities to increase merchandise export. Also high on the agenda will beways to address problems of overproduction to prevent trade disputes and avoidrisks of hampering economic development in cooperation with the Asian-Pacificcountries.
Invited to take part in the panel discussion are BelarusEconomy Minister Dmitry Krutoi, Armenia Minister of Economic Development andInvestments Tigran Khachatryan, Kazakhstan Minister of Trade and IntegrationBakhyt Sultanov, Kyrgyzstan Minister of Economy Sanzhar Mukanbetov, BelarusFirst Deputy Minister of Foreign Affairs Andrei Yeudachenka, Director Generalof the Russian Export Center Andrei Slepnev, President of the Kyrgyz Union ofIndustrialists and Entrepreneurs Danil Ibraev, President of the Korea Institutefor International Economic Policy Lee Jae-Yeon, Deputy Secretary-General forASEAN Economic Community Aladdin Rillo, Secretary General of the ShanghaiCooperation Organization Vladimir Norov, China Vice Minister of Commerce WangShouwen, and others.
The EEC noted that since its foundation the EAEU has pursuedan open policy of integrating into the multilateral trading system and usingregionalization to come onto new markets. Mutual trade between the EAEU memberstates and the Asia-Pacific countries constantly grows and exceeded $294billion in 2018, amounting to almost 40% of the total EAEU trade. In October2016, the EAEU signed a free trade agreement with Vietnam and is currentlyworking to sign similar agreements with Singapore and India. A trade andeconomic cooperation agreement between the EAEU and China will come into forcesoon. 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 memberstates and the EEC in line with the decision of the EAEU countries' primeministers of May 2015. The event comprises business events and an exhibition.The first forum took place during the Moscow International Forum OpenInnovations in Russia in October 2016. The second forum was held as part ofExpo 2017 in Astana, Kazakhstan in August 2017 and was named one of the 18 mostsignificant events of Expo 2017. In 2018, the Eurasian Week was hosted byYerevan, Armenia and drew around 3,100 representatives of government bodies,the private sector, and expert community of the EAEU, Singapore, the EU, theRepublic of Korea, Chile, Vietnam, Egypt, Iran, and other countries.