Connect with us

News

EAEU intending to create Eurasian brands

Published

on

“We must focus on global integration projects that would create Eurasian brands and help promoting our goods at the third countries’ markets”. This was stated by the Chairman of the Board of the Eurasian Economic Commission (EEC) Tigran Sargsyan speaking in Moscow at the plenary session of the XIII International Conference “Eurasian Economic Integration”.

The participants of the annual event arranged by the Eurasian Development Bank discussed the challenges and prospects for Eurasian integration.

Tigran Sargsyan noted that over the years of its existence the Eurasian Economic Union (EAEU) has proved its solidity and efficiency notwithstanding its young age. Next year, the EAEU countries will celebrate the fifth anniversary of signing the Treaty on the Union.

The EEC observes the increase in mutual trade, improvement of its structure, and strengthening of cooperation ties. “This shows that implementing main principles enshrined in the Union’s treaty has positive results for the Union’s economic growth. The Commission assesses the potential of this effect as about 1% of Gross National Product’s annual growth”, – highlighted the Chairman of the EEC Board.

A solid achievement of the EAEU is the third countries’ increasing interest in developing and deepening trade and economic cooperation with the Union. “This proves that the EAEU has established itself as a genuine integration association”, – believes Tigran Sargsyan.

Recently, the EEC has entered into a number of memoranda in Singapore: a memorandum of understanding with the ASEAN and a memorandum of cooperation with the Government of the Kingdom of Thailand. The Commission expects to sign a similar document with MERCOSUR. In May 2018, trade and economic agreements with China and Iran were concluded. The work is ongoing on international tracks approved by the Heads of the EAEU States in order to create free trade areas with Egypt, India, Israel, Singapore, and Serbia. Five rounds of negotiations with Singapore were held. Tigran Sargsyan expressed his hope that in 2019 it would be possible to enter the home stretch on the issue of creating an FTA with the Republic.

“Concluding FTA agreements with these countries is a serious potential for inducing economic growth in our States, and ramping up exports to these countries’ markets. It also means the possibility of additional investment attraction”, – reported the Chairman of the EEC Board.

Tigran Sargsyan also named the problems to be solved with a view to promote Eurasian integration. In his opinion, they are related to “under-integration” within the Union’s space. There are obstacles inhibiting the implementation of the “Four Freedoms” principle, and these must be removed. This is exactly the task the Heads of the Member States set for the EEC.

“Obstacles result from uncoordinated actions. Therefore, the States must pursue agreed policies. Such trends in global economy as protectionism, protection of domestic manufacturers, trade wars are unacceptable in our Union”, – stressed Tigran Sargsyan.
These agreed policies are underlain by harmonization of national legislations, in particular, in financial sphere. Upon instruction of the Presidents, national and central banks of the participating countries are developing the Concept of the EAEU common financial market.

The Chairman of the EEC Board also mentioned the necessity to form Eurasian brands similar to “Airbus” project in the European Union. “We need to launch such large-scale cooperation projects with the participation of all the partners within the Union, which would enable us to hold ourselves out as a united entity in relation to third countries”, – he stated.

The Commission is actively working over creation of a Eurasian brand in jewelry branch, as the Union countries have relative advantages in this field. The work is under way on forming a Eurasian brand in lighting engineering. The EAEU Digital Agenda is being implemented, which encompasses all the areas of activity of the participating countries. About 30 initiatives – major digital projects – are now being examined by the EEC Digital Office, some of them to win funding in 2019.

The Chairman of the EEC Board mentioned that the Commission was interested in cooperation under such projects with the EADB. “The key role in financing such global integration projects may belong to the Eurasian Development Bank”, – reckons Tigran Sargsyan.

Due to increasing demand in the EAEU countries for settlements in national currencies, the Chairman of the Board of the Eurasian Development Bank Andrey Belyaninov proposed to develop the Eurasian system of financial messaging. “For further promotion of settlements in national currencies within the Eurasian space we need to create a Eurasian financial messaging system using our “regulatory sandboxes” capabilities, – he said.

The Chairman of the Accounts Chamber of the Russian Federation Alexey Kudrin considers the EAEU’s task on deepening relations between the participating countries, eliminating barriers, forming common standards and new regulation models, in particular, within the financial market, to be an element of integration.

Whereas the Eurasian integration heavily relies upon its largest economy – the Russian economy, the Russian Federation shall, as a country creating the market for all countries, drive up rates of economic growth, remove barriers and enable the participants from the Union countries to access public procurement. “At this point, Russia shall sometimes make a compromise, then it will provide the impetus for the Union’s development”, – Alexey Kudrin believes.

The plenary session was also attended by the Deputy Minister of Finance of the Russian Federation Sergey Storchak, the Deputy Chairman of Vnesheconombank – Member of the Board Andrey Klepach, the Deputy Chairman of the Board of JSC “Development Bank of Kazakhstan” Dmitry Babichev, and the Dean of the Faculty of World Economy and International Affairs at the National Research University Higher School of Economics Sergey Karaganov.

Continue Reading
Comments

Africa Today

Investing in Key Sectors to Help Nigeriens Recover From the Health and Security Crises

Published

on

The Covid-19 pandemic crisis and the security situation continue to undermine the Nigerien economy, wiping out years of hard-won gains in poverty reduction.  A number of fiscal policy options are, however, available to help the country enhance public expenditure efficiency and increase its GDP by up to 2%. These are the findings of the World Bank’s latest economic and poverty update for Niger published today.

The report titled “Maximizing Public Expenditure Efficiency for Rebuilding Better” analyzes the impact of the health and security crises on Niger’s economy. The economy grew by 5.9% in 2019, but slowed to 3.6% in 2020, as a result of the combined impact of these crises. This sharp downturn increased poverty levels and pushed an additional 400,000 people into extreme poverty.

Nigeriens have been hard hit by the volatile security situation and these long months in the pandemic, with hundreds of thousands of children being kept out of school and deprived of proper health care, which will adversely affect their future,” notes Joelle Dehasse, World Bank Country Manager for Niger. “Turning this situation around will require massive and effective investments in human capital over the next few years.”

The report notes that these investments must be accompanied by bold structural and sectoral reforms aimed, among other things, at mobilizing more domestic resources, modernizing the administration, including the civil service, and promoting sound, prudent, and transparent government spending.

The projections for 2021 are nevertheless positive and economic growth is expected to rebound to 5.5%, driven by the reopening of the border with Nigeria, the resumption of large investment projects, and the normalization of several supply chains. However, these projections remain subject to the duration of the pandemic and the availability of vaccines, as well as to climate hazards and their impact on agricultural production and livelihoods.

The government of Niger has made tremendous progress in recent years in managing its public finances, giving high priority to social spending,” says Paolo Di Lorenzo, World Bank Senior Economist and co-author of the report. “However, public expenditure pressures remain high, partly due to the deteriorating security situation. Against this backdrop, the authorities should take further steps to improve domestic resource mobilization and public spending efficiency.”

The report’s authors recommend reprioritization across a number of key sectors in order to ensure Niger’s strong economic rebound.  These recommendations aim to redirect government revenues to basic social services and essential public infrastructure in order to maximize growth opportunities and social welfare. “Implementing the recommendations in the education sector will help improve spending and reallocate resources within the sector,” says Blaise Ehowe Nguem, Country Economist for Niger. “This will improve the quality of education, thereby reducing repetition and dropout rates.

Continue Reading

Tech News

Ensuring a More Inclusive Future for Indonesia through Digital Technologies

Published

on

While Indonesia has one of the fastest growing digital economies in South East Asia, action is needed to ensure that all Indonesians, especially the most vulnerable, can access various digital technologies and services and realize the benefits, according to a new World Bank report Beyond Unicorns: Harnessing Digital Technologies for Inclusion in Indonesia.

Although the accelerated adoption of internet-enabled services during the pandemic is likely to boost the growth of the digital economy, the benefits of such development could be unequal.

“There are a whole host of opportunities to use digital technologies for promoting better healthcare delivery, and improving access among the underserved but these need to be built on a base of reliable and interoperable data systems,” said Minister of Health of the Republic of Indonesia, Budi Gunadi Sadikin. “The pandemic has generated an unprecedented urgency to make this a reality and has also created a momentum to expedite adoption of digital technologies.

For Indonesia to leverage digital technologies for greater inclusion, the new report emphasizes three policy priorities. The first is to boost digital connectivity and universalize access to high quality internet through efforts such as improving clarity of regulations around the sharing of telecom infrastructure. The second priority is to ensure that the digital economy works for all. This can be supported by better logistics and greater investment in relevant skills for the digital era. The third priority is using digital technologies to provide better public services, improve the quality of citizen-and-state interactions, and build trust in the digital world.

Despite the progress in expanding internet over the past decade, the basic connectivity gap remains a major hurdle in Indonesia. Almost half of the adult population is still without access while the urban-rural connectivity divide has not narrowed. In 2019, 62 percent of Indonesian adults in urban areas were connected to the internet compared to 36 percent in rural areas, while it was 20 percent and 6 percent respectively in 2011. Indonesians in the top 10 percent of the income distribution were five times more likely to be connected than those in the bottom 10 percent.

“Addressing the digital divide goes beyond efforts to reduce the connectivity gap,” said Satu Kahkonen, World Bank Country Director for Indonesia and Timor-Leste.“It will be crucial to help citizens develop the skills to maximize digital opportunities, especially for better jobs. At the same time, it is equally important for the government to address the challenges related to regulations and business environment to enable firms to innovate and compete effectively.”

The proportion of Indonesian adults with access to the internet has increased from 13 percent in 2011 to 51 percent in 2019. Indonesians who are connected to the internet are among the most engaged populations in the world spending as many as six hours a day online. In addition, a large segment of this population is ready to intensify their digital interactions with the government. However, fragmentation of data and an untapped potential of building a comprehensive digital ID framework off the existing ID system are some of the key challenges holding back the government from a broader digital transformation.

Digitally engaged Indonesians are now experiencing how technologies reshape their lives and commercial activities contributing to better consumer experience. However, the opportunities are often limited to a particular demographic group with relatively higher level of skills. Digital gig work is more remunerative than other forms of informal work but is concentrated among urban male workers predominantly in the transportation, storage, and communications sector.

The report recommends the development of a national digital ID framework to enable Indonesians to prove their identity securely online, including a law on personal data protection that is backed by an independent oversight body. It calls for a reorientation from a narrow focus on e-government to a more comprehensive national digital transformation agenda.

Continue Reading

Development

Moscow is in the Top7 Intelligent Communities in the world

Published

on

For the second time since 2017, Moscow made it to the final stage of the Intelligent Community Awards rating. It involves the cities that show best practices in the development of communications, experts training, the use of innovation, digital inclusion, the involvement of residents in city management, and the maintenance of sustainability principles. The prestigious international rating is issued annually by the Intelligent Community Forum.

The first stage, which took place in February this year, 21 cities from eight countries were selected. At the second stage, an international group of independent experts selected seven finalists. Alongside with to Moscow, there are cities from Canada, Australia, Vietnam and Brazil.

The experts noted the capital’s achievements in the development and use of communications, the residents’ involvement in the city government, the training of IT-specialists, enhancing digital literacy, as well as the support and implementation of innovations.

“To participate in the prestigious international rating, our team in cooperation with the specialists of the Moscow Innovation Agency prepared a detailed description of the most significant implemented digital projects in the field of communication development and use, resident participation in the city management, training IT-specialists, improving digital literacy, supporting and implementing innovations, as well as responsible consumption and protection of natural resources. Due to continuous development of the city’s digital technologies over the past four years, Moscow is among the Smart21 cities for the third time and for the second time is among top seven Smart Communities, which certainly shows that our work is highly appreciated by foreign specialists,” said Eduard Lysenko, the head of the Moscow Department of Information Technologies. 

The jury assessed not only how developed the urban infrastructure is, but also how effectively it is adapted to new economic challenges. In the field of broadband Internet access development, Moscow presented the project of the city Wi-Fi network. It includes more than 21 thousand points of access to free Internet, as well as 5G pilot zones launched jointly with telecom operators to estimate the use of fifth-generation communication technologies.

In the field of highly qualified personnel training in Moscow, the educational projects of the Moscow Government were noted. These projects are devoted to pre-vocational education, namely arranging industry specific training in Moscow schools, as well as to the voluntary qualification examination. It is organized jointly with the corporate partners to assess and select students according to employers’ requirements.

The project “My Career” by Moscow employment center was also presented among the important initiatives. Residents can get assistance in finding suitable vacancies, a professional career counselling, psychological support, as well as take part in employment-related trainings and webinars. The center focuses on the most vulnerable categories in the labor market: mothers of young children, youth, applicants of pre-retirement specialists, people with disabilities, low-income families.

The “Innovation” section presented “Moscow Accelerator” – the flagship project of the Moscow Department of Entrepreneurship and Innovation Development, aimed at scaling innovative solutions in promising industries in partnership with major corporations – market leaders. Another project in this area is the Moscow Innovation Cluster. It was created for the development of innovative organizations, projects and cooperation between the city and large companies, industry, small and medium-sized businesses, educational and scientific organizations. The online platform “i.moscow” provides opportunities for interaction between cluster participants.

“The Moscow innovation ecosystem” is also in the rating. The program allows the developers to test their technologies at urban and commercial sites before they are released on the market, and the authorities and potential customers can evaluate their effectiveness.

The project “Moscow Longevity” represents the field of inclusion development, creation of intellectual communities and improvement of people’s access to digital technologies. The project is aimed at creating a network of free leisure for the older generation of Muscovites and expanding the opportunities for their participation in cultural, educational, physical fitness, health and other activities was noted.

The Smart City hall offers a visual demonstration of new technologies for residents of all ages. This is a permanent exhibition of Smart City technologies located on the territory of VDNKh. You can visit the hall for free, and guided tours are offered several times a day.

In the hall there is a 5G democenter, which is part of the capital’s pilot innovation testing program. Several technological projects involving the fifth-generation communication networks are already being tested at this site. This is wireless optical communication in 5G standard, VR and AR in architecture and construction, virtual reality training via 5G, computer vision for drones and access control with remote temperature measurement.

The involvement of citizens in improving the quality of life is achieved through the digital ecosystem of interaction between the city and residents. The Active Citizen project allows every resident to take part in voting on topical issues of city development, the Our City portal allows you to report a problem in housing services and amenities, and the City of Ideas enables you to offer your ideas for crowdsourcing.

The city also presented social projects. Among them are the charity service on the mos.ru portal, which helps residents make donations to verified Moscow non-profit organizations and foundations, and the “Search for Lost and Found Animals” service which helps find a lost pet. A number of projects are aimed at environmental sustainability. Namely a set of services aimed at reducing water consumption in Moscow (a service for transmitting readings of water meters, an interactive test and the project “The Price of Water” based on AR-technology), as well as the portal “MosEcoMonitoring”. It allows residents to monitor the condition and quality of air in their city or district online in real time.

Intelligent Community Forum is a non-governmental organization headquartered in New York. ICF rating has been issued since 2005. The current leader of the Intelligent Community Awards is Tallinn. The new leader will be announced in autumn.

Continue Reading

Publications

Latest

Africa Today1 hour ago

Investing in Key Sectors to Help Nigeriens Recover From the Health and Security Crises

The Covid-19 pandemic crisis and the security situation continue to undermine the Nigerien economy, wiping out years of hard-won gains...

Tech News3 hours ago

Ensuring a More Inclusive Future for Indonesia through Digital Technologies

While Indonesia has one of the fastest growing digital economies in South East Asia, action is needed to ensure that...

Africa5 hours ago

Russia and China: Geopolitical Rivals and Competitors in Africa

The growth of neo-colonial tendencies, the current geopolitical developments and the scramble for its resources by external countries in Africa:...

South Asia7 hours ago

India’s North East: A cauldron of resentment

The writer is of the view that the recent clash between police force of Mizoram and Assam is not an...

Economy9 hours ago

Bangladesh-Myanmar Economic Ties: Addressing the Next Generation Challenges

Bangladesh-Myanmar relations have developed through phases of cooperation and conflict. Conflict in this case is not meant in the sense...

Development11 hours ago

Moscow is in the Top7 Intelligent Communities in the world

For the second time since 2017, Moscow made it to the final stage of the Intelligent Community Awards rating. It...

forest fire forest fire
Green Planet13 hours ago

Wildfires in Turkish tourist regions are the highest recorded

Turkish fires in tourist regions are the hottest in history, due to which thousands of tourists evacuated as the nation...

Trending