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The First Euro-Asian Financial and Economic Forum

The First Euro-Asian Financial and Economic Forum was held on May 15-18, 2019 at the Khorgos International Centre of Border Cooperation (ICBC) and thus gained the name “Khorgos”. Khorgos is a unique point on the map. This name belongs to two near-border points on the Kazakh and Chinese territories as well as to the mountain river between them.

Today this place attracts a lot of people to carry out different forums, negotiation, trade and cultural exchange. The reason is that it is a transport and logistics point on the border of Kazakhstan and China and the re-emerging Great Silk Way according to the tasks of the programs “Nurly zhol” and “One Road – One belt”. This transport and logistics hub is important for the whole Eurasian continent and can be compared to the Suez Canal for the Central Asia. This project allows to open transit corridors via the Khorgos hub towards Russia, Europe, Gulf countries, Afghanistan and India.

The Kazakh project Khorgos-Eastern Gate SEZ is well-known among logistic companies working on the Eurasian continent and trading with Asia and Europe as well as Gulf countries. Hewlett-Packard (HP), Toyota, DHL, partners from CIS, Russia, the Baltic states are interested in the development of logistics on the territory of SEZ. Considering the geography and the infrastructure built in Kazakhstan investors tend to develop logistics here, construct warehouses for the whole Eurasian continent. Khorgos becomes a strong driver of economy not only for the Almaty region, Kazakhstan in general, but the trade on the Eurasian continent itself. A city Nurken will be constructed here in future with population of 100 000 people.

ICBC has the status of a Special Economic Zone. Its participants are free from most taxes.

 The opening speech was held by Bakhytbek Baiseitov, the President of the Financial & Banking Association of Euro-Asian Cooperation, President of Association of Banks of the Republic of Kazakhstan, Chairman of the Board of Directors of the Bank CenterCredit JSC as well as by Serikzhan Beskempirov, Deputy of the mayor of Almaty region.

The moderator of the Forum was Anvar Saidenov, Member of the Board of Directors, Independent Director of the Bank CenterCredit JSC.

A profound report was delivered by Alexander Murychev, Chairman of FBA EAC Coordinating Council, Executive Vice-President of RSPP.

Other speakers were Zh. Tuyakov, Deputy of the mayor of Almaty region, A.Kazakov, Chairman of Coordination Council of the CIS Financial and Banking Council, R.Batalov, Chairman of the Board of Directors of the holding RaimbekGroup, Kh. Daurov, President of the “New Silk Way”, S.Feodorov, Chairman of the Board of the Riga Chamber of Commerce and Industry, G.Amando, Vice-President of Dawning Information Industry CO, LTD and many other representatives of the Eurasian regional economic area.

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Among the participants of the Forum also were R.Fadeev, Vice-president of UCE “Silk Way” JSC and S.Arkhipova, Head of Analytical Department of FBA EAC.

Within the Forum the meeting of the International Banking Council also was held with the agenda “Effective cooperation of supra-national, national development institutes and commercial banks: global experience and practice”. The meeting also discussed the issues of the regulation and development of financial technologies, possible risks and security.

Summing up the meeting the participants decided to recommend to the IBC members to use the materials and reports of IBC in their work and to inform all interested credit institutes and other financial organization of their countries.

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IBC meeting