IBEC Took Part in the International Financial and Economic Forum of CIS and European Countries

From 22 June to 25 June 2017, the delegation of the International Bank for Economic Co-operation headed by Ms. Irina Golovchenko, Board Chairman, took part in the work of the International Financial and Economic Forum of CIS and European countries “Prague Business Meetings”. The CIS Financial and Banking Council together with the Russian-Czech Joint Chamber of Commerce, with the support of the CIS Executive Committee acted as the organizer of the forum.

The chief executives of central (national) banks and exchanges, financial authorities, banking unions and associations, heads of the largest commercial and investment banks, and investment companies from countries of the Commonwealth and the European Union took part in the forum.

The most relevant issues devoted to economic development of the CIS countries and international cooperation between the state and commercial financial institutions were discussed in the course of the forum. The forum participants have assessed the prospects for restoration of cooperation between the national and international development institutions in the Commonwealth, and have discussed the integration of financial markets in the Eurasian Economic Union (EAEU) space, the adaptation of banking systems of the EU and CIS countries to new challenges at the Eurasian markets, the new opportunities in the area of investment risks, and the prospects for investment and export-import activities in the context of existing sanctions restrictions.

Special attention was given to the issues of development of export projects and programs of the Czech Republic in the CIS, and to the state of the Russian-Czech cooperation, to an experience in implementing joint projects with the participation of the Czech financial and banking institutions.

Under the business program of the forum, Ms. Irina Golovchenko, IBEC’s Board Chairman, delivered a speech devoted to the opportunities of cooperation with the Bank as an international intergovernmental financial organization. The Board Chairman told about the first results of Bank’s activities that have been resumed since 2016 and the plans for extending its operations in the interests of the Bank’s member countries.

On 23 June 2017, during the forum the Memorandum on Cooperation between the IBEC and the Government of the Republic of Komi (Russian Federation) was signed in the formal setting. The document was signed by Ms. Irina Golovchenko, IBEC’s Board Chairman, and Mr. Sergey Gaplikov, Head of the Republic of Komi (RF).

Within the framework of the Memorandum, the parties agreed on liaison in creating favorable conditions for investing in the economy of the Republic of Komi (RF) in the area of industrial construction, agriculture, development of natural resources, power engineering and timber processing. The plans cover holding consultations in mechanisms and instruments for support and development of small and medium business entities. Moreover, the parties intend to share best practices in raising and maintaining investments. The major task of the Memorandum is to initiate cooperation of the parties aimed at raising investments in the economy of Komi and enhancing its investment appeal for the IBEC’s member countries.

In the course of the forum, the Bank’s delegation members held a number of business meetings with the Czech and Czech-Russian organizations and discussed the issues of cooperation with the Bank and enterprises from the Bank’s member countries.