Head of EDB to speak in the Griboedoff Discussion Club in Yerevan
Almaty, 10 December 2012. Igor Finogenov, Chairman of Eurasian Development Bank’s (EDB) Management Board, will speak on 11 December in the Griboedoff discussion club in Yerevan (www.griboedoff.net). This is a unique place where intellectual elites of Russia and Armenia meet for informal talks. The topic chosen by the head of EDB for discussion is In the Storm of the Global Economy: Is There Really a Need to Choose between the European and Eurasian Paths of Development?
The seeming necessity to make this choice sometimes creates erroneous benchmarks and can lead to a deadlock. What else but the pragmatic economic policy is the only civilised choice in the context of globalisation? It suggests, in particular, the maintenance of long-term competitive positions of each economy through an assiduous approach to its strengths in the international division of labour.
In our countries this is reflected in the experience and potential of bilateral cooperation: Russia is becoming a key investor in Armenia.
However, investment processes should be intensified and diversified: both «into Armenia» and «from Armenia.» Cooperation should be developed with businesses from Kazakhstan, Belarus and Ukraine, among others.
The maximal effect from multilateral cooperation with the CIS partners can be attained in the long run — as a result of initiatives and projects in technologically advanced sectors, the food industry and agriculture, with positive changes in capital and labour market, and through the formation of major transnational holdings that are capable of becoming leaders in their sectors.
Additional Information
Eurasian Development Bank is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth and the expansion of mutual trade and other economic ties in its member states. EDB’s charter capital exceeds US $1.5 billion. The member states of the Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan. Read more at https://www.eabr.org.