EAEU proposes to create Eurasian Agency for Strategic Initiatives

The institution of development would be aimed at boosting the investment activity in the region, as well as at exchanging the best practices in staff training and in the social sphere. The prospects for creating the agency were discussed in Bishkek at the Eurasian Economic Forum.

Sergei Glazyev, Minister in charge of Integration and Macroeconomics of the Eurasian Economic Commission (EEC), noted that EEC, together with the member states, had been working towards the creation of an institute for EAEU development and support for three years.

“We have set up a working group, which would address the issue of creating a special institution of development based on existing opportunities and focused on aligning the development of the regions. Today, we have an idea to take advantage of the experience of Russia and its Agency for Strategic Initiatives. The Agency was established not long ago, but it enjoys very good reputation. It is a successful institution engaged in driving investment in the regions. They analyze the investment climate, develop recommendations for its improvement and run investment rankings,” Sergei Glazyev said.

According to him, the special institute for development of the EAEU countries does not imply the creation of a legal entity. It would be mainly aimed at “addressing the issue of driving regional investment in each of the countries”.

Seyilbek Urustemov, Adviser to the Chairman of the National Bank of the Kyrgyz Republic, added that through design offices the commission could offer projects to contribute to the integration and alignment of the economies.

“We need such a format in order to exchange the best practices, both in management and technology,” Anton Moskalenkov, Director of the International Relations Office said. – “We have already begun the transformation of our experience. Kazakhstan has the Agency for Strategic Planning and Reforms, which is largely similar to ours. Last year, we began to cooperate with Uzbekistan. It has set up the Strategic Development Agency . Now we are looking for partners in Kyrgyzstan and Armenia. We would like to share some social, economic and educational projects, including in staff training, and also IT solutions with our partners. ”

Sergei Glazyev emphasized that a bigger role of development institutions, more loans to joint projects and support for cooperation would accelerate development of the territories.

“In Asia, we must focus on the growth rate of 6-7 % per year set by our main partners, such as China, India, and Indochinese countries. I am sure that we can reach these percentages,” the EEC Minister in charge of Integration and Macroeconomics said.