Head of EDB: Pragmatic Eurasianism as a tool for upgrading CIS economies

Almaty, 24 May 2013. Integration is not an end in itself but a tool for achieving objectives, the main of which in the area of economic development of the SES and the entire CIS region is modernisation. Igor Finogenov, Chairman of Eurasian Development Bank’s (EDB) Management Board, stated this today at the 6th Astana Economic Forum. The head of EDB described the ideas and approaches of «pragmatic Eurasianism» to the advancement of Eurasian integration. He said that without using them the development and expansion of integration in the region would be a difficult task.

Eurasian integration should be able to withstand low oil prices. «Stability can be ensured by bottom-up integration. This includes mutually beneficial flows of goods, services, labour and capital,» said Igor Finogenov. «Trans-border companies and holdings that own intertwined assets in a number of countries of the future Eurasian Union can become an impo...