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Daniil Algulyan: ‘We Can Implement Completely New Integration Projects, Including Technological Collaboration’

10 december 2024 года
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Daniil Algulyan, Deputy Chairman, VEB.RF, and a member of the Bureau, Russian Engineering Union, keynoted a meeting of the expert council on foreign trade development of the Industry and Trade Committee of the State Duma. The meeting discussed support for foreign trade and improvements to the regulation of trade within the Eurasian Economic Union (EAEU).

Expert council chairman Daniil Algulyan said: “Currently, the EAEU is increasingly significant to us in the economic context. We have been saying for many years that they are our closest neighbours, that they are our economic partners. And now, our cooperation is entering a totally new phase. We can implement completely new integration projects, including technological collaboration. We can jointly make products and export them beyond the boundaries of Eurasian economic integration. We can set up new interesting projects.

“Economic growth in the Eurasian commonwealth is largely due to present-day cooperation among the countries that are members of the EAEU, the countries that work closely with the EAEU, and the countries that we call the EAEU+.”

During the meeting of the expert council, Russian Deputy Minister of Economic Development Dmitry Volvach said: “Building a common space for cooperation and collaboration in technological development will be high on the list of priorities for the EAEU until 2030 and 2045. At the moment, the EAEU member states are active in working on a relevant action plan.”

According to Dmitry Volvach, measures to encourage industrial cooperation within the EAEU are a key issue on the integration agenda, affecting the increased resilience of the EAEU economies to external challenges.

The deputy minister added: “The Russian Ministry of Economic Development is monitoring more than 300 projects in the EAEU with Russian participation. These are projects in various sectors, such as industrial production, logistics, oil and gas, energy, tourism and digital technology.

“We provide financial support for Russian exports by arranging funding for foreign businesses that buy Russian goods. We provide financing for Russian manufacturers that supply these goods. We work closely with the Ministry of Industry and Trade in this area, we use concessional lending programmes. Apart from lending programmes, we can also offer guarantee programmes. In this area, we partner with commercial banks to share the risks of financing the export of Russian products. We work closely with Russian Export Center, which is an important development institution in this area. We work together on developing new products to help our colleagues in the coming years to produce and supply goods to foreign markets.”

According to Dmitry Volvach, new export transactions within the EAEU+ with the involvement of VEB.RF are estimated at 920 billion roubles, with VEB.RF’s commitment of 610 billion roubles.
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