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27 October 2022, 13:11

Italian professor: Many countries are consolidating around SCO, BRICS, EAEU

BAKU, 27 October (BelTA) - Many countries in different regions of the world are consolidating around the Shanghai Cooperation Organization (CSO), BRICS and the Eurasian Economic Union (EAEU), said Professor Antonio Fallico, President of the Conoscere Eurasia Association, as he spoke at the Eurasian Economic Forum in Baku on 27 October, BelTA has learned.

“We see the increased role of the Eurasian Economic Union, which in one way or another attracts most of the countries of the former Soviet Union. We see expanding spaces of regional cooperation in Latin America and Africa. In this context, we have seen the consolidation of various international organizations, including BRICS and the Shanghai Cooperation Organization in recent months,” Antonio Fallico said.

He singled out the BRICS organization, which, in his words, had acquired new development potential between the preparation of the last summit and its convening in June 2022. “There is a noticeable difference between the simple consultative organization that the BRICS used to be and its transformation into a new type of platform with great ambitions. Whereas previously there was no question of expanding the BRICS, now Argentina and Iran have formally applied for membership. Saudi Arabia, Egypt and Turkiye have already begun to move in the same direction. The only ones still missing are Indonesia, Nigeria, Pakistan and, with some reservations, Mexico, so that the structure unites economic, political and demographic forces on a global and regional scale outside the Western context. Could this have been imagined a year ago? No. Could this trend influence economy, finance and development? Sure,” Antonio Fallico said.

The Eurasian Economic Forum, which was held in Italy's Verona for 14 years, has been relocated to Baku this year. The 15th edition of the forum is held in the capital of Azerbaijan on 27-28 October. This event brings together politicians, experts, diplomats, company heads and journalists from the West and the East. The forum was held in Italy even in the midst of the COVID-19 pandemic. However, today's geopolitical realities forced the organizers to change the traditional venue of the forum.

The forum participants are set to discuss a wide range of practical issues in the field of economy and finance, healthcare, environment, energy and technological innovations in Greater Eurasia. This year the forum will be themed “Eurasia on its path to a new geopolitical, social, and economic order: transition to a new, human-centered economy”. On the first day of the forum, the participants will discuss global energy challenges, European energy security, the role of business in global geopolitics and the creation of a cooperation economy from the Atlantic to the Pacific. On the final day of the forum, discussions will focus on the work of the financial sector in the face of new geopolitical challenges, the development of transport and infrastructure as a condition for modernizing the digital economy and the development of territories, as well as the industrial revolution and the formation of the economy of the future in Greater Eurasia.

The event is organized by the non-profit organization Conoscere Eurasia Association (Italy), the Roscongress Foundation, the St. Petersburg International Economic Forum with the support of the Ministry of Economy of Azerbaijan.

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