The Eurasian Economic Forum has shown once again that this high-speed – economic integration – train has already left the station.
The first Eurasian Economic Forum, in Bishkek, Kyrgyzstan, took place this week at a very sensitive geopolitical juncture, as Russian Foreign Minister Sergei Lavrov keeps stressing that, “the West has declared total war against us, against the entire Russian world. Nobody even hides this now.” It’s always important to remember that before Maidan in 2014, Ukraine had the option to become a full member of the Eurasian Economic Union (EAEU), and even balance it with a loose association with the EU.
The EAEU comprises five full members – Russia, Kazakhstan, Kyrgyzstan, Belarus and Armenia – yet 14 nations sent delegations to the forum, including China, Vietnam and Latin American nations. There was much rumbling that the proceedings would be jeopardized by the serial sanctions packages imposed on Russia by the collective West. There’s no question that some EAEU members – such as Kazakhstan – seem to be more worried about the effects of the sanctions than about fine-tuning business with Russia. Yet that’s not the point.
The crucial point is that by 2025 they have to harmonize their legislation concerning financial markets. And that’s directly connected to what the executive body of the EAEU, led by Sergey Glazyev, is working on, extensively: designing the lineaments of an alternative financial/economic system to what the West would rather coin as Bretton Woods 3. The Eurasian Economic Forum was established by the Supreme Eurasian Economic Council explicitly to further deepen economic cooperation between EAEU members. No wonder the official theme of the forum was Eurasian Economic Integration in the Era of Global Shifts: New Investment Opportunities, focusing on strategic development in the industrial, energy, transport, financial, and digital areas.
https://www.strategic-culture.org/news/2022/05/27/the-eurasian-economic-union-steps-up
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