Eurasian Development Bank Chief Economist: The establishment of industrial integration clusters within the countries of Eurasian Partnership becomes more and more actual

ArmInfo. The establishment  of  industrial integration  clusters within the countries of European  Asian Ecionomic Union should become the first priority in EDB  activities, Yaroslav Lissovolik, the EDB Chief  Economist  told  ArmInfo correspondent on the sidelines of the XI  International   Conference on Eurasian Economic Integration. 

He mentioned,  that nowadays  the countries of the region  show an  adaptation to the strict industrial conditions, related to the lower  oil prices. "We see positive flows in the biggest countries of our  region - in Russia and Kazakhstan, and we expect that next year the  EAEU member countries will enter the positive zone and will show a  pretty sustainable growth. 

He accentuated that for over than 10-year period of activities   EDB   has been implementing multiple projects in the field of  infrastructure, transportation corridors for the intensification of  trade and investment flows, and now looks for  the opportunities t be  allied with largest Development Banks in the world for co-financing  of  new large projects, particularly in the aspect of improvement of  the partner countries exporting potential. 

However, according to Lissovolik' position, the time came to pay a  serious attention to the interregional cooperation, development of  industrial and innovative clusters, development of fast growth  regions. Such projects could become a newer powerful factors of the  Eurasian integration. "As a bank, we look at this issue more and more  attentively, we initiated agreements with regional authorities.

In Armenia and in a number of other countries we should use all the  possibilities to improve the investment climate with a purpose to  draw investment projects in more targeted manner and to precisely  defined regions," the expert accentuated. He mentioned that the  clusters idea  is not developed enough yet, but it should get it.  

Now we have an idea, and we should develop an appropriate concept,  and on the basis of that to get to the implementation of certain  projects. For instance, we discuss the issue of regional financing  centers development, but this is a quite different aspect, it is more  important to pay attention to the clusters development in real  sector, in real economy, in innovations. "Working in Eurasian   environment  I see  a huge resources of human potential in Russia, in  Armenia and in other countries, which  creates  good starting  conditions for using the tool of industrial innovative clusters," the  Chief Economist of EDB said. 

To note, Dmitri Pankin, the EDB Board Chairman, during his speech at  the conference expressed a regret due  to the small number of  investment projects, particularly in the actual sector of economy. He  accentuated that Development banks in their essence should derive of  largest commercial banks exactly by  their  ability to search and to  develop such projects and work in the fields being under risks,   where commercial banks will not dare to intervene.