Eurasian Economic Forum discusses integration of BRICS, EAEU and SCO

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The second Eurasian Economic Forum took place on May 24–25 in Moscow, bringing together representatives of the BRICS, EAEU and SCO integration formats. The participants discussed the prospects of cooperation between these regional blocs in the context of the changing global economic landscape.

BRICS is an association of five major emerging economies: Brazil, Russia, India, China and South Africa. EAEU is a free trade group comprising Russia, Armenia, Belarus, Kazakhstan and Kyrgyzstan. SCO is a security and economic organization that includes Russia, China, India, Pakistan and four Central Asian countries.

The forum focused on key areas of cooperation, such as the implementation of the transport and logistics megaproject in Greater Eurasia, the transition to new forms of settlements in mutual trade, and the role of interaction between associations in stabilizing the global economic situation.

According to Mikhail Myasnikovich, Chairman of the Board of the Eurasian Economic Commission, the expansion of mutually beneficial cooperation between integration formats not only contributes to the growth of national economies but can also have a significant impact on the formation of new approaches to the functioning of the global market.

He also noted that the volume of foreign trade of the EAEU members with the SCO and the BRICS increased by more than 40 percent last year, while the union’s exports increased 1.6 times.

The forum was attended by Zhang Ming, SCO Secretary General, Ani Sooklal, BRICS Ambassador-at-large, and other authoritative officials. The moderator of the discussion was Anatoly Torkunov, Principal of the Moscow State Institute of International Relations at the Ministry of Foreign Affairs of Russia.

The forum demonstrated the potential of a wide partner network of interstate associations and the development of cooperation between these countries in the face of global challenges and opportunities.

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