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EAEU, SCO, BRICS can become backbone of global economic regulatory system

According to him, it is necessary to remove existing legislative barriers, primarily in the area of taxation and currency control

VLADIVOSTOK, September 7. /TASS/. The integration associations of the EAEU, SCOб and BRICS, together with partner institutions, can become the backbone of the updated architecture of international regulation, President of the Russian Union of Industrialists and Entrepreneurs Alexander Shokhin told TASS on the sidelines of the Eastern Economic Forum.

"The development of integration formats is on the agenda - the EAEU, SCO, BRICS. Together with partner institutions, they can become the backbone of the updated architecture of international regulation. It is important to synchronize the agendas of the EAEU, SCO, and BRICS and promote cooperation in industries with high cumulative returns," Shokhin said.

He also noted that business proposes to remove a number of legislative barriers and provide a real opportunity to use any reliable digital currencies in this area to solve the problem of payments in foreign trade.

According to him, it is necessary to remove existing legislative barriers, primarily in the area of taxation and currency control.

The Eastern Economic Forum (EEF) was held on the campus of the Far Eastern Federal University in Vladivostok on September 3-6, 2024.

The EEF is one of the largest international conferences in Russia. It has been held in the Primorsky Region’s Russky Island in Vladivostok since 2015. The Forum is the initiative of Russian President Vladimir Putin, who decreed that the event be held annually.

The Roscongress Foundation has served as the Forum’s organizer since 2016. TASS was the general information partner of the EEF.

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