A socially oriented non-financial development institution and a major organizer of nationwide and international conventions; exhibitions; and business, public, youth, sporting, and cultural events.

The Roscongress Foundation is a socially oriented non-financial development institution and a major organizer of nationwide and international conventions; exhibitions; and business, public, youth, sporting, and cultural events. It was established in pursuance of a decision by the President of the Russian Federation.

The Foundation was established in 2007 with the aim of facilitating the development of Russia’s economic potential, promoting its national interests, and strengthening the country’s image. One of the roles of the Foundation is to comprehensively evaluate, analyse, and cover issues on the Russian and global economic agendas. It also offers administrative services, provides promotional support for business projects and attracting investment, helps foster social entrepreneurship and charitable initiatives.

Each year, the Foundation’s events draw participants from 208 countries and territories, with more than 15,000 media representatives working on-site at Roscongress’ various venues. The Foundation benefits from analytical and professional expertise provided by 5,000 people working in Russia and abroad.

The Foundation works alongside various UN departments and other international organizations, and is building multi-format cooperation with 173 economic partners, including industrialists’ and entrepreneurs’ unions, financial, trade, and business associations from 78 countries worldwide, and 188 Russian public organizations, federal and legislative agencies, and federal subjects.

The Roscongress Foundation has Telegram channels in Russian t.me/Roscongress, English – t.me/RoscongressDirect, and Spanish t.me/RoscongressEsp. Official website and Information and Analytical System of the Roscongress Foundation: roscongress.org.

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The Greater Eurasian Partnership: Pathways to Economic Development
7 September 2022
12:30—14:00
KEY CONCLUSIONS
The trend towards regionalization opens up new opportunities for cooperation in Eurasia

There is the question of moving from globalization to regionalization. There is the question of dismantling those international institutions that since the post-war era have been, one might say, the backbone of the current system. We also understand that the new technological order behind the climate agenda – digital, low-carbon one. It is an economy that will no longer be driven so much by financial capital as by technology companies. This is the context and direction of the great transition we are experiencing. It is in this context that partnership issues must be considered — Andrey Slepnev, Member of the Board, Minister in Charge of Trade, Eurasian Economic Commission.

We now have a unique chance to ensure the self-sufficient development of our Eurasian world, to change, not only the regional, but also the global, political and economic architecture, and to become the guarantor of stability and prosperity of the states in our region — Kirill Barsky, Acting Head of the Department of Diplomacy, Moscow State Institute of International Relations.

There are many problems, much like the opportunities. In my view, the situation is such that the problems are short-term, while the opportunities are long-term. So, we will solve the short-term problems for sure, but the long-term opportunities will stay with us for a long time — Alexander Vedyakhin, First Deputy Chairman of the Executive Board, Sberbank.

ISSUES
The need to build a new system of financial relations using digital assets

Look at it: we still have many foreign exchange contracts in dollars and euros. Settlements can be made in anything, but it is still dollars and euros. We have a very strange situation. Let’s say we are making a yuan–rouble settlement on a dollar contract. Why are we doing this? The difference in cross-rates makes all parties lose. It is very strange, and we should definitely move away from this — Alexander Vedyakhin, First Deputy Chairman of the Executive Board, Sberbank.

We need to think about how to be proactive, to form payment system mechanisms that will be long-lasting and not just a response to the situation. We conducted a survey of RSPP members: 92% of companies believe that, given the disruption of traditional rules of the game, we need to develop our own rules on the platforms of the SCO, BRICS, and the EAEU. Undoubtedly, the formation of a new system of financial relations is one of the key points. <...> It is necessary to replace the rules of the game, which are now destroyed. We need new rules. We need to start creating these mechanisms — Alexander Shokhin, President, Russian Union of Industrialists and Entrepreneurs.

As for the settlement system, <...> if we used to talk about SWIFT as a universal platform, now it is probably difficult to offer such mono-solutions. Most likely, we should go through mutual interconnection, recognition, and use of such systems. There are many of them. Russia uses them in India and Iran, too. And this polyvariance is probably what will be new in the multipolar world to describe the solutions that exist in the financial sphere — Andrey Slepnev, Member of the Board, Minister in Charge of Trade, Eurasian Economic Commission.

The next area is finance. If we now limit ourselves to agreements that we work with fiat currencies [the value of which is provided by the states issuing them, – Ed.] and jointly agree on how we will protect ourselves from sanctions, it is not enough. In a cyber world, currencies need to be digital. We need to use digital financial assets to, first, reduce the costs of financial regulation and payment systems, and second, to make all processes more secure and transparent. <...> If we do not solve this issue, we will lose the momentum [of development, – Ed.] — Valentin Makarov, President, RUSSOFT Association.

SOLUTIONS
Unification of integration projects in the Eurasian space

What we need to talk about now is the maximum alignment of integration groupings and integration projects that exist in Eurasia. And we should consider the EAEU as a model of such a seamless economic system — Alexander Shokhin, President, Russian Union of Industrialists and Entrepreneurs.

Technological sovereignty will ultimately determine state sovereignty. Our countries – the Greater Eurasian Partnership potentially – are all developing these platforms, their technologies. <...> The question is whether [the countries, – Ed.] have enough resources and capabilities to create competitive [products and platforms, – Ed.] across the spectrum. The answer is clear: we need to unite. We need to move to a model of technology competition or multi-variant technologies and not in any case technological monopoly, which is imposed on us by the key players today. This is another point of integration — Andrey Slepnev, Member of the Board, Minister in Charge of Trade, Eurasian Economic Commission.

Interaction between regional organizations is an important track for 'tightening' and 'stitching together' Greater Eurasia. <...> We are talking primarily about interaction between the Eurasian Economic Union, the Shanghai Cooperation Organisation, and the ASEAN. But we should not forget that there is a number of organizations in our space that, I am sure, will eventually join this project. These include, of course, the Commonwealth of Independent States and the Conference on Interaction and Confidence-Building Measures in Asia. There is such an important organization as the Black Sea Economic Cooperation. It is now in a frozen state, I think everyone understands why, but I think the time is not far off when this organization will start working again and become our ally. There is the Organization of Turkic Speaking States, and it seems to me that we should involve it in this project as well, because Turkey and the Central Asian states, as we have just seen, objectively benefit from a unified, seamless Greater Eurasia. In South Asia, there is the SAARC [South Asian Association for Regional Cooperation, – Ed.], which also has integration processes at the sub-regional level and would be interested in closer cooperation with us through India and Pakistan — Kirill Barsky, Acting Head of the Department of Diplomacy, Moscow State Institute of International Relations.

The material was prepared by the Russian news agency TASS