EAEC countries need for common system of information exchange between banks
The panel session "20th anniversary of the Eurasian Economic Integration. Outcomes and Prospects " was held as part of the VII Astana Economic Forum.
Adviser to the President of Russian Federation Sergey Glazyev expressed a view that there is a need for a common payment system on the EAEC area.
"Today's realities are pushing us to speed up the integration in those sectors which are subject to geopolitical risks. This is primarily a financial services market. In Russia, we are working to establish a national payment system. From my perspective, it would be more effective to develop a payment system to the EAEC. The Interstate Bank headed by Igor Suvorov initially was created for this purpose as a body that was supposed to take over provision of the Payment Union. And now these functions are in demand, so if we do not create the payment system, we will deal with political risks" - said Sergey Glazyev. In addition, he noted the importance of the common system of information exchange within the EAEC countries, "that would have insured the integration union members from the political risks associated with the SWIFT system that paralyzed the financial system of Iran". Mr. Glazyev added that the EAEC member states should implement transition rapidly to settle in national currencies. "I think we can serve soon almost all bilateral trade turnover in national currencies and this will increase the efficiency of our trade, " - he stressed.
Organizer: "Eurasian Economic Club of Scientists" Association, "SUCCESS K" media agency.
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