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Eurasian Economic Union

Russian PM gives top five trends for EAEU nations to consider for successful development

"We develop digital transport corridors and the employment of an integrated information platform, and the number of such projects is rising," Mikhail Mishustin noted

ALMATY, February 2. /TASS/. Production localization, promotion of logistics reliability, the creation of alternative payment financial possibilities, digital development and the building of integrated public management systems are global trends that EAEU (Eurasian Economic Union) member states should take into account, Russian Prime Minister Mikhail Mishustin said.

The Union already has the experience of successful launch of common initiatives, he told a plenary session of the Digital Almaty forum. "We develop digital transport corridors and the employment of an integrated information platform, and the number of such projects is rising," the prime minister noted.

That said, "it is necessary to take global trends into consideration," he added, giving five main trends. "First comes production localization. Only following it states can guarantee accessibility of goods, commodities and technologies to their citizens and business," Mishustin said. The second trend is ensuring the reliability of supply chains, he added. "Concurrently with localization of production it is necessary to create conditions for the launch of projects of industrial cooperation with friendly countries, which we in the Eurasian Economic Union agreed upon last year," the official said.

"The third [trend] is to create alternative payment institutions of the global financial system. The existing ones do not consider the interests of all participants. For doing this, mutual settlements should be maintained with the use of national currencies, independent payment instruments and distributed ledger services," he said.

The fourth trend the Russian prime minister mentioned is the connection between accelerated technological progress and digital development. Those processes are hardly possible without the introduction of platform services, strengthening of cybersecurity, the spread of generative artificial intelligence and other innovations, he added. "The fifth area is the construction of integrated systems of public management. They are a strategic resource in the development of social and economic measures," Mishustin concluded.

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Eurasian Economic Union Mikhail Mishustin

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