Igor Finogenov: Economic integration is an effective response to global challenges
Almaty, 19 November 2013. Economic integration is one of the effective responses to global challenges. It is a tool to improve sustainability and modernise economies. Igor Finogenov, Chairman of the Management Board at Eurasian Development Bank (EDB), stated this at a plenary session of the World Economic Forum’s Summit on the Global Agenda in Abu Dhabi today.
As regards the post-Soviet countries, he said that, «to modernise those countries that are rich in natural resources investments in human resources, infrastructure and institutional development should be increased.» He also emphasised that, «We want integration to help attain the following goals: joint infrastructural development, a partial departure from the oil-and-gas dependence, industrial advancement and cooperation in the area of research and education.»
The day before the head of EDB spoke at the Summit’s session Regional Perspectives on Global Trends. Igor Finogenov talked about Eurasian economic integration as an objective process which is gathering momentum in the post-Soviet space. He emphasised that this is «a global trend and not a political will enforced by any country or a group of countries.»
About 900 experts from more than 80 countries are taking part in the forum. The key issues on the agenda are food security, climate change, financial stability, geopolitical risks and other global problems.
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.