©Vyacheslav Viktorov, Roscongress Foundation via AP
The Eurasian Economic Union (EAEU) is becoming one of centers of the evolving multipolar world, Russian President Vladimir Putin said on Thursday.
"I note with confidence that cooperation within the Eurasian Union framework continues entrenching and our association is consistently taking up the position of one of independent and self-sufficient centers of the evolving multipolar world," the head of state said.
The interaction among EAEU member-nations "is always being built on principles of mutual benefit, consideration of interests of each other, and with the focus on supporting sustainable economic development and increasing the welfare of residents of all countries" in the Union, the Russian President stressed.
Tashkent ready to work on increasing trade turnover between EAEU countries
Uzbekistan is ready to create conditions for a radical increase in trade between the countries of the Eurasian Economic Union (EAEU), President of Uzbekistan Shavkat Mirziyoyev said during a meeting of the Supreme Eurasian Economic Council on Thursday.
"Uzbekistan is ready to continue joint work to simplify trade procedures and create conditions for a radical increase in the volume of trade between our countries," he stated.
Mirziyoyev stressed that this process will be facilitated by the adoption of an agreement on the elimination of technical barriers in the mutual recognition of certificates. "Uzbekistan has completed all preparatory work to align national technical regulations with EAEU standards for these purposes. We will continue to work on the development of settlements in national currency," he added.
Tokayev urges EAEU to deepen integration with SCO, ASEAN, MERCOSUR
The Eurasian Economic Union (EAEU) should deepen integration with the Shanghai Cooperation Organization (SCO), the Association of Southeast Asian Nations (ASEAN) and the Southern Common Market (MERCOSUR), Kazakh President Kassym-Jomart Tokayev said on Thursday.
"We should fundamentally deepen cooperation with SCO, ASEAN, MERCOSUR and other international organizations. I think that the interest in cooperation from the side of those organizations is mutual," he said at a meeting of the Supreme Eurasian Economic Council.
Tokayev considers it necessary to extend target markets for EAEU nations’ exporters through joint efforts. "One of the key goals of the Union’s creation is to get as beneficial trading terms from third countries as possible," he stressed. "It is important to continue a comprehensive dialogue with integrations and countries, the cooperation with which is interesting for us from the economic viewpoint, on the basis of a strong coordinated joint position," the Kazakh president added.
He also noted that the work is ahead for completing free trade zone agreements with the UAE, India, Egypt, Indonesia and Israel.
Russian market of online games in 2023 may grow by 10% — experts
In 2023, the Russian online gaming market may rise by 7-10% in comparison with 2022. Maria Saykina, chief analyst of the Russian Association for Electronic Communications (RAEC) Maria Saykina told TASS on the sidelines of the Russian Internet Forum.
"There is a sense that the games market will not decline any further. I believe there will be a modest growth. We can expect to see an increase of around 7-10%," she said. According to Saykina, growth can come as a result of state initiatives and funding from the Institute of Internet Development.
According to RAEC analytical study presented at the forum, the Russian online gaming market declined by 78% in 2022 compared to 2021 and reached 21.8 bln rubles ($272.2 mln).
Growing Number of Countries Flock to Russo-Asian Economic, Political Blocs
While Western countries seem rather eager to try to cut Russia off from their economies, a growing number of nations from other corners of the world appear just as eager to gain greater access to the Russian economy by signing on to organizations like the Eurasian Economic Union.
The veritable economic war unleashed by the US and its allies upon Russia over the ongoing conflict in Ukraine has, among other things, resulted in a development that US strategists likely did not anticipate
Rather than see its economy crumble and begin to mull surrender, Moscow has weathered the onslaught by the West and instead moved to deepen economic cooperation with Asian, African, and Latin American countries, i.e. nations that comprise the so-called Global South.
Chris Devonshire-Ellis, chairman of pan-Asia business management consulting firm Dezan Shira & Associates, told Sputnik that events such as the currently ongoing Eurasian Economic Forum may in fact be laying down the structure of the "great changes" Chinese President Xi Jinping told Russian Vladimir Putin about during their meeting in Moscow earlier this year.
"Discussing the cooperation mechanisms between them is a complex issue, however all are emerging nations with young populations possessing a dynamic mindset that global change is required. If the desire is there and the political will and freedoms are given opportunity, this is more likely to occur than not," mused Devonshire-Ellis, a seasoned veteran who has a 30-year investment and business career in China, Russia and Asia.
He also suggested that international investors should pay attention to the EAEU, a trade bloc that "has largely been ridiculed in the West as being moribund and slow moving," but which actually has been growing "despite a difficult start."
"The main reason that international investors should take note is that it [EAEU] offers access to nearly all of Central Asia as well as Russia, and that it has a lengthy queue of other nations wishing to sign agreements with it," Devonshire-Ellis explained. "It has nowhere near reached its full potential: investors should be looking to get a foothold, adapt, learn and progress before the competition for EAEU market share starts to arrive."
The developments and trends highlighted by Devonshire-Ellis take place as the economies of Global South countries gain power and clout, while Western nations such as the US and UK now have to cope with the fact that their economies may be a lot less attractive to foreign investors than they once were.
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