EDB opens Integration Research Center in Saint Petersburg

According to BelTA, within the recent years an integration breakthrough took place in the post-Soviet space, namely the Customs Union of Russia, Belarus and Kazakhstan started working. The parties signed 17 agreements which make up the foundation of the Single Economic Space. "The regional economic processes, we believe, need adequate political support. For this purpose the EDB decided to set up the Integration Research Center at the level of ministers of the EDB member states," Yevgeny Vinokurov explained.

According to him, the center is a compact model structure which will work mostly on outsourcing attracting leading institutions and experts from Russia, Kazakhstan, Belarus and Ukraine.

"First of all, the center should become an authoritative supplier of technical information to the governments, state authorities, EurAsEC executive bodies regarding the evaluation of the Customs Union macroeconomic effects, the harmonization of economic legislation, financial and currency integration, mutual investments and trade," Yevgeny Vinokurov said.
According to him, after the Integration Research Center strengthens its positions it will become one of the mos6t influential EurAsEC institutions. The center will direct member-states bodies and experts towards solving concrete issues.

Evgeny Vinokurov noted that the IRC was not created from scratch. Since 2006 the EDB has regularly issued analytical reviews, a quarterly "Eurasian Economic Integration", various digests. In 2009 the Bank implemented a research project "System of Indicators of Eurasian Integration".

This year, the IRC plans to implement the following projects: "Integrated macroeconomic assessment of the various forms of deep economic integration of Ukraine, and the Customs Union and the Single Economic Space", "Assessment of the economic impact of accession of the Kyrgyz Republic to the Customs Union" and other projects.

In turn, deputy chairman and managing director for project activities of the Eurasian Development Bank Gennady Zhuzhlev noted that currently there is a deficit of analytical information on regional economic integration of the former Soviet Union states. Therefore, in the future the IRC can become a major source of information and analytical materials on regions that will be used for specific integration-oriented investment projects, which will contribute to decision making regarding the funding of new projects in the EDB participating states.

The Eurasian Development Bank is an international financial institution established by Russia and Kazakhstan in January 2006 to promote the market economy growth in the participating states, and expand mutual trade and economic ties. The EDB authorized capital exceeds $1.5 billion. The EDB participating states are Russia, Kazakhstan, Belarus, Tajikistan and Armenia.

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