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» » International conference “The importance of interbank cooperation in providing rates of economic growth on the territory of SCO, BRICS, EAEU”

International conference “The importance of interbank cooperation in providing rates of economic growth on the territory of SCO, BRICS, EAEU”

In the course of the International conference “The importance of interbank cooperation in providing rates of economic growth on the territory of SCO, BRICS, EAEU”, organized by the Financial-bank association of countries-members of Shanghai cooperation with association of Russian Union of Industrialists and Entrepreneurs, Business Club of SCO and with an assistance of the Association of Regional Banks of Russia, that took place in Moscow, June 30th, the participants discussed the questions of unification of investment spaces inside the unions of SCO, BRICS and EAEU.

The Head of RUIE , A. Shokhin, welcomed the participants of the Conference with a introduction word, in which he noticed, that the business format of the conferences of such type serve as a great basis for the exchange of opinions of the leading experts in the sphere of international financial-bank relations, which allows to formulate the suggestion on the amplification of financial-economic regulation in the alliances of members of SCO, BRICS, EAEU, and the generation of practical recommendations for the business community of these countries.
More than 150 people from 13 countries took part in the Conference: the representatives of central (national) banks, international centers of development, financial and economic institutions, heads of bank unions and associations, representatives of investment and commercial structures of countries, represented on the territory of SCO, BRICS and EAEU.

The goal of the Conference has become the work through of economic consolidation of the territory of SCO, BRICS, EAEU via the strengthening of multilateral formats of commercial-economic and financial-bank cooperation of countries of the alliances.

The partners of the Conference were “Russian Supply” and “Alta-Soft”.
The Head of RUIE , A. Shokhin, welcomed the participants of the Conference with a introduction word, in which he noticed, that the business format of the conferences of such type serve as a great basis for the exchange of opinions of the leading experts in the sphere of international financial-bank relations, which allows to formulate the suggestion on the amplification of financial-economic regulation in the alliances of members of SCO, BRICS, EAEU, and the generation of practical recommendations for the business community of these countries.
In the course of the Conference the participants have discussed thoroughly the forms of international bank, financial, investment cooperation, circumstances of mutual promotion of bank and human capital on the markets of SCO, BRICS, EAEU. The questions of the influence of interbank cooperation on the provision of the rates of economic growth of countries of Europe and Asia were also discussed. The possibility of integration of financial and commerce markets, human capital markets, the creation of new international system of payment cards of BRICS and the perspectives of the development of financial-bank systems in the terms of financial-economic turbulence were estimated. The participants of the Conference also paid attention to the problem of stimulation the recuperation of the growth of economies of SCO, BRICS, EAEU, the formation and consolidation of interregional relations, the creation of auspicious conditions for business.
Alongside with this, the participants of the Conference in their informs and speeches noted, that the difficult situation of crisis in financial-credit sphere, structural disproportions in the economies of countries, deficit of proper capital both of companies and bank structures, imbalance of the dates of attraction of credit resources and their allocation, the difference in the systems of control in the bank activity hold the integration of financial markets of countries of SCO, BRICS, EAEU.

In the majority of discussions participants, in contemporary conditions of international economic relations, agreed upon the fact that the coordination of actions of financial and bank institutions, as the major intermediates, providing the necessities of contemporary world economy, play a huge role.
The need of continuing work of making legislative and law basis of countries inside alliances more closer to each other and activation the provision of state balance of interests when forming a wide Asian zone of integrative cooperation.
As for the investment activity, the majority of informers and participants agreed upon the opinion, that to set the main directions of investing cooperation it is crucial to define structural priorities of development of financial markets and create the mechanisms of state stimulation of investing in production.

The participants of the Conference shared the practical experience of using the newest technologies and organizing decisions in carrying out the investment programs and projects, discussed the wide range of practical measures of deepening of international financial-investment cooperation.
The informers and participants admitted the timing and the necessity of the Conference, that let distinguish and discuss the real problems in the sphere of interbank cooperation of members of SCO, BRICS, EAEU and it is importance in providing the rates of economic growth on the territory of Eurasia. Besides the participants decided that the workout of ideas and suggestions as a result of discussion of main directions of development of interbank cooperation should serve as a conceptual addition to the development of international programs of investment cooperation of members of SCO, BRICS, EAEU.

During the Conference 3 sections were active:
1. Regional cooperation in SCO, BRICS, EAEU.
2. Investment activity on the territory of SCO, BRICS, EAEU.
3. The development of human capital as a base for the success of international cooperation. New realities.
The result of the first section was the unified opinion of the participants about the necessity of activation of regional cooperation and, first of all, in the sphere of private entrepreneurship and the state-private partnership, where the main role should be given to the workout of mechanisms of project financing. The participants discussed the investment possibilities and perspective methods of Russian-Turkish and Russian-Chinese business. The decision to support with cooperation and take part in the Forum of regional cooperation of small and medium business of 21-23 of October in Ufa was taken. The agreements upon cooperation of international organizations, regions and parts of Russia with the Business club of SCO were signed.

The participants of the second section during the discussion admitted that lowering the investment and business activity due to the structural global crisis makes the international business community revise the plans of its development strategy, change priorities, find new partners and new sources of financing. The speakers and informers agreed upon the opinion that for all countries-participants of the alliances it is necessary to change priorities and increase the effectiveness of using state and private investments, activate the investment activity of commercial banks. The participants admitted the necessity to change dramatically the decisions on further parts of investment activity: the sources of investment capital, tax subsidies and discounts, the base of agreement, the coordination of exterior withdrawal, management, informational and administrative provision inside the countries of alliances. The consolidation of investment territory of SCO, BRICS, EAEU is and will be crucial, which will allow all participants of the market to utilize the international credits, direct and other foreign investments, international guaranties, possibilities of project financing.
Besides on this section the cooperative investment programs of FBACS with PromAgroInvest (Israel, Belorussia) in the spheres of development of agricultural business, and the Group of companies “CHEMICO” (China) upon the development of regional pilot projects in the spheres of energy, innovation, modernization od production and infrastructure.
The result of the second section was the signing of a number of multilateral agreements.

The discussion of the participants of the third section confirmed the opinion about the fact that in postindustrial countries the importance of human resources is of high priority over natural and financial. The increase of informational part of business explains the transformation of human resources in the working assets that define the rates of economic development and information progress. People as resources are to fulfill stipulated standards of labor functions, which resemble the competent character of the staff hiring and personal management.

The participants state that overcoming the lag and modification the institutions of HR-service is crucial for successful functioning of corporate participants of new alliances like SCO, BRICS, EAEU, projects of “Great Silk Road”. The result of the third section was the decision of the complex of measures for development of institutional regional infrastructure of staff provision.

All the participants of the Conference noted that the form and organization of the Conference contributed to an interesting, meaningful and mutually beneficial dialogue; to establishing business contacts with counterparts from the SCO, BRICS and EEU countries and with international experts. They expressed a shared opinion that the event conducted would contribute to new business contacts establishment and new common projects appearance in the field of financial and investment infrastructure.

In confirmation of that, the Conference resulted in concluding contracts and in signing investment and partnership agreements.
Under the FBACS program to finance agro-industrial complex, an investment contract has been signed between the investment company PromAgroInvest LLC and Port Service LLC (Mtsensk, Orel oblast).
The FBACS signed as well the General agreement of strategic partnership and co-operation in realization of international investment contracts of multinational importance for the period until 2025 with CONSORTIUM Group of companies «CHEMICO» (China), memoranda for co-operation with the Krai of Perm and «ECOVIS» consulting company (Germany).
Besides, at the Conference were signed agreements for co-operation of The SCO Business Club with the Turkish entrepreneurs and manufacturers Confederation, the Federal Fund for residential development assistance, the state-owned company Avtodor, the Turkish ORTEKSAN GROUP, the Inkerman Group and the National Civil fleet operator.
As a result of the discussion, the participants of the Conference have made a decision to support the idea of implementing a new international system of payment cards in BRICS countries (NISPC) and to suggest that the BRICS Business Council should discuss this offer at the oncoming BRICS summit in Ufa.
In the course of the Conference the participants discussed and approved of the Concept of the International Eurasian Customs-logistic Holding model within EEU.
The participants of the Conference approved of the initiative to hold the 2nd Moscow International financial and economic forum: «EEU prospects in the context of the European experience and global challenges» in Moscow in December of 2015.

The forum participants put forward an initiative to make the International Conference, hosted in co-operation with the FBACS, the RUME and the SCO Business club with support of the Russian regional banks Association and held for the first time in June of 2015, annual as the first platform for experts and discussions in the field of finance and banking sector of the SCO, BRICS and EEU countries.
The Conference participants decided it viable to adopt the final document and to publish it on the websites of the Financial and Banking Association of the SCO countries, the Russian Union of manufacturers and entrepreneurs, the SCO Business club and the Russian regional banks Association.

This post is also available in Russian: 30.06.2015г. Международная конференция «Роль межбанковского сотрудничества в обеспечении устойчивого экономического роста на пространстве ШОС, БРИКС, ЕАЭС».