New Economic System Discussed at EAEU Forum

May 27, 2022 (EIRNS)—There is a need to discuss the development of an independent currency system in the Eurasian Economic Union (EAEU), said Chairman of the Board of the Eurasian Economic Commission (EEC) Mikhail Myasnikovich during the plenary session of the Eurasian Economic Forum in Bishkek, Kyrgyzstan, reported Belarus Telegraph Agency (BelTA).

“In my opinion, not only trade and payments in national currencies should be on our agenda. We need to discuss the construction of an independent monetary system, an independent currency system,” Myasnikovich said. “The world is changing fast. A qualitatively new system of axes, priorities and values in international economic, political and humanitarian relations is taking shape.”

Belarusian Deputy Prime Minister Igor Petrishenko pointed to pioneer technologies as crucial for the future economic and industrial integration in the EAEU, speaking at a panel discussion at the Eurasian Economic Forum. Petrishenko suggested assessing the effectiveness of Eurasian technological platforms that are needed for introducing advanced technology into production. This is particularly relevant in the context of the ongoing work on a strategic program of the EAEU scientific and technological development.

“For example, Belarus has great competencies in optics and microelectronics. These two sectors served as a springboard for the development of Belarus’ own space industry. Therefore, we actively upheld the interstate program for the production and provision of space and geo-information products based on Earth remote sensing. This will allow our enterprises to get integrated into joint R&D projects of the EAEU.”