8th Astana Economic Forum to discuss infrastructure development as driver of economic growth

ASTANA, May 21. /TASS/. The eighth Astana Economic Forum opens in the Kazakh capital city on Thursday. This year’s topic is "Infrastructure: A Driver of Sustainable Economic Growth. The forum is expected to bring together more than 3,000 businessmen, politicians and economists from more than 90 world nations, including Russia. The first day of the forum will see a conference dedicated to global economy development and fundamental changes taking place in it. The agenda also includes such subjects as macroeconomic impacts of falling oil prices, slowed economic growth in the BRICS countries (Brazil, Russia, India, China and South Africa), the Eurasian Economic Union (EAEU) as a new centre of development, ways of getting out of the "trap of average income," prerequisites for a new financial crisis in developing countries, China’s new economic norm. Participants will also discuss impacts of the Russian rouble exchange rate on currency units of Caucasian and Central Asian countries, impacts of the economic situation in Russia on the Eurasian Economic Union, and China and its strategy towards the revival of the Silk Road. Much attention will be focused on monetary issues, including the new dollar-euro norm, and the influence of the United States’ policy on developing countries. The programme of the second day includes a plenary session also dedicated to global economic changes. It is expected that Kazakhstan’s President Nursultan Nazarbayev will take part in the forum. A focus at the forum will be made on Eurasian economic integration. Thus, participants will discuss possibilities for businesses in the Eurasian Economic Union. The discussion will involve representatives of the Eurasian Economic Commission, business associations of the Union’s member countries. An agreement on the establishment of the EAEU Business Council will be signed at the forum, and its first meeting will be held within its framework. It is expected to discuss vectors of the development of Eurasian integration in the global context. Apart from that, the Eurasian Economic Commission will organize a session dedicated to the strategy of economic growth and integrations effects in the Eurasian Economic Union and other regional associations. A total of 30 events are planned to be held within the framework of the summit, said Aset Igraliyev, the first deputy chairman of the board of the Institute of Economic Studies, a think tank. "It is planned to present a 3D simulator of the development of the country’s main city till the year 2030. The programme includes discussions of the future of the global economy, risks and necessary actions in conditions of falling oil prices and issues of sustainable growth. And, of course, central to the agenda will be an Investment Forum geared to attract new, large-scale investments in the country," he said, adding that all the previous Astana Economic Forums had seen the signing of large-scale contracts and agreements. "This year, we will offer proposals and a package of measures to attract investors," he noted. As for the key topic - infrastructure, it will be central to most of the events. Special focus will be made on the project for the revival of the Silk Road. Participants in the forum will discuss the implementation of this project and its effects on the economies of the countries of that region. The second summit of the Silk Road countries and the third international transport and logistics forum "New Silk Road" involving more than 200 delegates from railway administrations will be held within the framework of the Astana forum. Participants will discuss interstate cooperation in the development of international transport corridors, the Trans-Caspian international transport route, and the implementation of transport and logistics projects. The forum will be crowned by a final document with basic recommendations on economic policies to ensure sustainable global growth. Read more