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EAEU intending to create Eurasian brands

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“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.

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Top global firms commit to tackling inequality by joining G7 Business for Inclusive Growth coalition

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A group of major international companies has pledged to tackle inequality and promote diversity in their workplaces and supply chains as part of a G7 initiative sponsored by French President Emmanuel Macron and overseen by the OECD.

The Business for Inclusive Growth (B4IG) coalition will be launched at the G7 Leaders’ Summit in Biarritz, France, taking place from 24 to 26 August 2019. Spearheaded by Emmanuel Faber, Danone Chairman and CEO, the coalition brings together 34 leading multinationals with more than 3 million employees worldwide and global revenues topping $1 trillion. Members have agreed to sign a pledge to take concrete actions to ensure that the benefits of economic growth are more widely shared.

B4IG coalition members will tackle persistent inequalities of opportunity, reduce regional disparities and fight gender discrimination. Companies have identified an initial pool of more than 50 existing and planned projects, representing more than 1 billion euros in private funding, to be covered under the initiative. The projects range from training programmes to help employees adapt to the future of work to greater investment in childcare, to increasing women’s participation in the workforce; to financially supporting small businesses, to encouraging greater participation in supply chains; and to enhancing the integration of refugees through faster integration to the workforce. Coalition members will seek to accelerate, scale up and replicate already existing projects, while significantly expanding their social impact.

The platform, chaired by Danone, consists of a three-year, OECD-managed programme. It aims at increasing opportunities for disadvantaged and under-represented groups through retraining and upskilling, as well as promoting diversity on the companies’ boards and executive committees and tackling inequalities throughout their supply chains. They will also step up business action to advance human rights, build more inclusive workplaces and strengthen inclusion in their internal and external business ecosystems.

The B4IG initiative will be presented to President Macron during a meeting with business and civil society leaders at the Elysées Palace on Friday 23 August.

OECD Secretary-General Angel Gurría said: “Growing inequality is one of the biggest social challenges in the world today, perpetuating poverty, undermining social cohesion and trust. Sustainable economic growth means inclusive economic growth. It means giving every individual the opportunity to fulfil her or his potential, the chance not only to contribute to a nation’s growth but to benefit from it, regardless of their background or origins.”

Mr Gurría added: “I welcome this initiative by France to involve some of the world’s most important companies to work hand-in-hand with governments and the OECD to tackle inequalities. The OECD, for its part, will contribute with its policy analysis, research and expertise.”

A Business for Inclusive Growth (B4IG) Incubator of public-private projects will be created at the OECD. The facility will offer companies access to the latest policy research, to help them launch and develop projects, undertake impact assessments and eventually bring about meaningful change. The B4IG Incubator will be funded by both G7 governments and private donors. It will service innovative inclusive business projects that require strong collaboration between the private and the public sector. The Incubator will catalyse and disseminate knowledge around the business models with higher social impact.

An evaluation of the projects will be published after three years, alongside OECD guidance for promoting inclusive growth through joint public-private action and for measuring business performance.

OECD Chief of Staff and Sherpa Gabriela Ramos, leader of the OECD Inclusive Growth Initiative, said: “The OECD has been documenting and raising the alarm bell regarding the increased inequalities of income and opportunities in OECD countries for decades. They do not only undermine social cohesion and trust, but they also hamper growth, by preventing our economies to take full advantage of the talent of its people and businesses. We are delighted to partner with leading companies that are committed to take action. Our experience, evidence and best practices are at the service of the Business for Inclusive Growth Initiative.”

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World Bank Launches Stakeholders Consultations to Support Peace in Afghanistan

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The World Bank today launched a stakeholder’s consultation to identify economic initiatives to support and sustain peace in Afghanistan once a potential political settlement is reached with the Taliban.

After completing several consultations with international and Afghan stakeholders, the World Bank is now seeking broader input from all stakeholders and made public several draft documents on its website to facilitate the process.  

At the 2018 Geneva Ministerial Conference on Afghanistan, the World Bank was tasked to support planning for post-settlement economic development projects and programming following discussions.

According to Henry Kerali, the World Bank Country Director for Afghanistan, the consultations will serve several purposes. “First, we want to show that a peace agreement can bring substantial economic benefits to all Afghans and is in the interest of all parties involved in the ongoing conflict. Second, we want to identify potential principles and themes to guide programming decisions following a settlement. Finally, we want to provide some concrete ideas about the kind of programs that could be scaled up or initiated to maintain peace and realize new economic opportunities in Afghanistan.”  

Kerali also noted that the consultations come at a critical time for Afghanistan. “The World Bank is merely providing technical analysis and is not involved in any negotiations; our priority is to plan for the future of Afghanistan. Peace prospects can improve if the right economic conditions are in place and create job opportunities for those who might otherwise take up arms.” Kerali also noted that public input would be vital to ensure effective planning.

The World Bank is inviting comment on three documents now published on its Afghanistan website:

  1. A two-page consultation note;
  2. A short consultation presentation; and
  3. A full technical report.

Consultations are expected to continue until a peace agreement is reached and new programming decisions are made. The public is invited to share comments and questions throughout the process via email or through comments on the relevant website.

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Microplastic pollution is everywhere, but not necessarily a risk to human health

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A woman fetches water in Pakistan. Photo: UNDP Pakistan

Tiny plastic particles known as microplastics are “everywhere – including in our drinking-water”, but they are not necessarily a risk to human health, UN experts said on Thursday.

In its first summary of the latest research into the impact of the tiny plastic pollutants on humans, the World Health Organization (WHO) said that they have been found in marine settings, waste and fresh water, food, the air and drinking-water, both bottled and from a tap.

Frequently, microplastics are defined as less than five millimetres long, according to WHO.

Its report notes that the particles most commonly found in drinking-water are plastic bottle fragments.

“Based on the limited information we have, microplastics in drinking water don’t appear to pose a health risk at current levels. But we need to find out more,” said Dr Maria Neira, WHO’s Director, Department of Public Health, Environment and Social Determinants of Health. “We urgently need to know more about the health impact of microplastics because they are everywhere – including in our drinking-water.”

According to WHO’s findings, microplastics larger than 150 micrometres (a micrometre is a millionth of a metre) are unlikely to be absorbed in the human body, while the uptake of smaller particles is likely to be limited. 

Absorption of microplastic particles “including in the nano-size range may, however, be higher”, the WHO report continues, before cautioning that available data in this “emerging area” is extremely limited.

Asked by journalists about how levels of plastic pollutants differ between tap water and bottled water, WHO’s Jennifer de France from WHO’s Department of Public Health, replied that bottled water “in general did contain higher particle numbers”.

Nonetheless, Ms. France also cautioned against jumping to conclusions, owing to the lack of available data.

“In drinking water in general, often the two polymers that were most frequently detected were polyethylene terephthalate (PET) and polypropylene,” she said. “Now these polymers – the polyethylene terephthalate – is often used in producing bottled water bottles, and polypropylene, is often used in producing caps. However, there were other polymers detected as well, so more studies are needed to really make a firm conclusion about where the sources are coming from.”

While citing the handful of available studies into the absorption of microplastics and nanoplastics in rats and mice, which showed symptoms including inflammation of the liver, WHO’s report insists that people are unlikely to be exposed to such high levels of pollutants.

Drinking-water contamination: a million lives lost each year

A much more clearly understood potential threat than microplastics is exposure to drinking-water contaminated by human or animal waste, said Bruce Gordon, from WHO’s Department of Public Health, highlighting a problem that affects two billion people and claims one million lives a year.

One way that Governments can tackle this problem is by putting in place better waste-water filtration systems.

The move would reduce microplastic pollution by around 90 per cent, the WHO official explained, before noting that the report had touched on people’s wider concerns about how to live more sustainably and waste less.

“Consumers shouldn’t be too worried,” Mr. Gordon said. “There’s many dimensions to this story that are beyond health. What I mean by that is, if you are a concerned citizen worried about plastic pollution and you have access to a well-managed piped supply – a water supply – why not drink from that? Why not reduce pollution. Of course, there are times when you need a water bottle when you’re walking around, but please reuse it”, he emphasized.

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