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EDB, Eurasian Economic Commission to sign memorandum of cooperation

November 12, 2013, 10:21 updated at: November 12, 2013, 12:23 UTC+3 ALMA-ATA

The document’s initialing ceremony will be held within the framework of the 8th international scientific-practical conference on deepening and widening of Eurasian integration

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ALMA-ATA, November 12 (Itar-Tass) - The Eurasian Development bank (EDB) and Eurasian Economic Commission (EEC) intend to sign a memorandum on cooperation. The document’s initialing ceremony with the participation of EDB Board Chairman Igor Finogenov and EEC Board Chairman Viktor Khristenko will be held within the framework of the 8th international scientific-practical conference that will focus on the “deepening and widening of Eurasian integration”, which is opening in Moscow on Tuesday.

“The participants in the forum, organized by the EDB, will discuss a wide range of issues of economic integration in the Eurasian space, as well as will consider prospects for the expansion of the Customs Union (CU) and the formation of the Eurasian Economic Union,” the press centre of the financial structure reported.

It said that “the forum will pay special attention to the settlement of the issues of coordination of macroeconomic policies, discussion of the prospects for cooperation between the Common Economic Space member states and Ukraine.” According to the press service, the forum’s plenary sessions will consider issues of mutual investments in the Commonwealth of Independent States (CIS) region, approaches to macroeconomic forecasting in the Eurasian integration process, problems of its infrastructure development, commodity markets’ merger, the formation of a single labor market, public perception of integration, the expansion of cross-border cooperation.

The EDB 8th conference is traditionally attended by the leaders of the Eurasian Economic Commission, prominent scientists of the Russian Academy of Sciences (RAS), Ukraine, Belarus, Kazakhstan, Armenia, Kyrgyzstan, Tajikistan and other countries, representatives of international organizations and mass media.

Chairman of the CIS Executive Committee - CIS Executive Secretary Sergei Lebedev and Russia’s presidential adviser Sergei Glazyev are among those invited to attend the current forum.

According to EDB, scientific and practical conferences under its auspices “have become an effective communication and information tool for financial institutions, state administration bodies, and economic entities of the EDB member states. Their importance is considerably growing in connection with the functioning and expansion of the Customs Union of Russia, Belarus and Kazakhstan, the formation of a single economic space and the creation of the Eurasian economic Union.”

The Eurasian Development Bank is an international financial institution established by Russia and Kazakhstan in January 2006. Eurasian Development Bank is an international financial organization established to promote economic growth in its member states, extend trade and economic ties between them and to support integration in Eurasia. The EDB authorized capital exceeds $1.5 billion. Its member states are Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan.

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