The Eurasian Development Bank (EDB) announced last week that it has signed a memorandum of cooperation with the Institute of Economics of the Russian Academy of Sciences (RAS).
The document was signed by Igor Finogenov, the chairman of the management board at EDB, and Ruslan Grinberg, the director of the Institute of Economics at RAS.
The parties agreed to cooperate in the areas of macroeconomics, regional and sector research, and socioeconomic forecasting for the EurAsEC and CIS countries. They will also undertake joint research projects on high technology in the processing sectors, in particular.
The EDB will also help the institute to implement interstate and regional research programs and projects, especially in the area of investment activities and the advancement of integration processes.
"We have a very important and pressing task to devise a cardinally new approach to regional development in the post-Soviet space as a whole and the functioning of the Eurasian Economic Union in particular," Grinberg said. "The RAS Institute of Economy has been studying centripetal and centrifugal trends in the economies, policies and culture of the new independent states for over twenty years. We appreciate that cooperation with Eurasian Development Bank helps us in this. It is great honor and responsibility for us to conduct fundamental and applied research for the Bank in the interests of the new independent states."
The EDB and the Institute of Economics have been working together since last year, when the two sides issued a research paper titled "Trans-Border Cooperation between the Regions of Russia, Belarus and Ukraine." Last February, the parties held a joint conference on economic integration in the framework of the Second Russian Economic Congress in Suzdal.
"We deem cooperation with the Institute of Economics of the Russian Academy of Sciences as an additional source of qualitative and quantitative evaluation of the degree of integration between the EurAsEC countries and of socioeconomic forecasts for our region's development, including sectoral development and the dynamics of mutual trade and investment," Finogenov said. "The Institute conducts fundamental and applied research in the area of macro- and microeconomic analysis of the Russian economy, and the external factors influencing the development of Russia and neighboring countries. This is where we count on cooperation with the Institute in the first place. Our cooperation will further the advancement of targeted financing for joint research projects, which are in line with the mission and strategic objectives of EDB."
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