The Eurasian Intergovernmental Council (EIC) meets in Cholpon Ata, Kyrgyzstan today.
Comprising of key political figures from Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia, today’s meeting centers on Eurasian transnational supply chain and export upgrades, trade infrastructure development, and financial cooperation. Emphasis on maintaining Chinese investment via the Belt and Road Initiative (BRI) – key to further developing an East-West transport corridor through Eurasia – will take precedence in discussion.
Following the Russia-Ukraine conflict and a subsequent Russian prohibition of raw goods to European Economic Union nations, supply chain fallout and demand for staple goods have inflated Eurasia’s economic integrity. The direct financial and labor disruption caused by neighboring conflict have left EIC nations in a position to size up trade not only via Moscow but also through transnational channels.
Expect today’s meeting to further cement the policy implementation of the Strategic Directions for Developing the Eurasian Economic Integration as the EIC maintains Chinese BRI investment. Further, expect the EIC to sign several papers that promote regional financial stability. In the medium-term, anticipate connectivity of the BRI through Eurasia to leverage economic opportunities for nations vying for financial relief as the Russian-Ukraine conflict persists. This will inadvertently benefit China long-term.
Joseph is a Current Developments Analyst with regional expertise in Northeast Asia. He focuses primarily on South Korean-Japanese geopolitics.