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13 October 2022, 12:17

Eurasian Economic Union becomes CICA partner organization

MOSCOW, 13 October (BelTA) - The Eurasian Economic Commission (EEC) and the Secretariat of the Conference on Interaction and Confidence-Building Measures in Asia (CICA) signed the Memorandum of Understanding on the sidelines of the 6th CICA summit in Astana on 13 October. The document was signed by Chairman of the EEC Board Mikhail Myasnikovich and Executive Director of the CICA Secretariat Kairat Sarybay, BelTA learned from the EEC press service.

"The Eurasian Economic Union has become one of the partner organizations of CICA," the press service emphasized.

The memorandum aims to promote comprehensive economic cooperation in the Eurasian region. According to the memorandum, the parties intend to cooperate in regional economic integration, economy and finance, transport, digitalization and ICT, industry and agriculture, trade policy and competition policy.

The center of economic life is now shifting to Asia, and in this regard, cooperation with CICA is of considerable interest to the Eurasian Economic Union, Mikhail Myasnikovich emphasized. "Until now, we have been working on parallel tracks. The signing of the memorandum between the EAEU and CICA will enable us to coordinate our activities. Thus, we are expanding the boundaries of mutually beneficial economic cooperation to the entire region of Greater Eurasia and are creating the capital of the future. I am sure that we have great prospects," Mikhail Myasnikovich said.

In turn, Kairat Sarybay noted that the formalization of interaction between CICA and the EAEU will benefit all member states of both associations. One of the practical forms of this work can be cooperation between the CICA Business Council and the EAEU Business Council. "A wide range of economic challenges and opportunities, global and regional threats and challenges, the sustainable development goals and environmental protection necessitate closer interaction and interconnectedness in the Asian region and, more broadly, on the Eurasian continent," Kairat Sarybay emphasized.

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