At St. Petersburg International Economic Forum, Russian Deputy Prime Minister Alexey Overchuk stressed how crucial integration within Eurasian Economic Union (EAEU) is for facing external challenges,especially with Middle East crisis ongoing. Global economies are so linked now that collaboration is key to handle impacts from such crises,he said.
Overchuk flagged rising fertilizer prices,tying them to geopolitical tensions and bigger issues in agro-industrial sector. “We can’t ignore agro-industrial and food production issues separate from fertilizer supply and prices,” he stated . Current events make these links clearer,showing EAEU's role in bracing against external shocks .
Looking forward,Overchuk cited United Nations Conference on Trade and Development (UNCTAD) forecasts predicting global trade slowdown by 2026 . He blamed geopolitical barriers,tariff wars, and growing fragmentation in international trade . “These negative processes are intensifying,” he said,noting that U.S. and EU,traditional food exporters,are facing big challenges .
But Overchuk sounded optimistic about EAEU member states. Farmers here have adapted well,seizing new market opportunities. “This opens up a very good window of opportunity for us,” he explained,seeing growth amid global uncertainties.
The forum,running June 3 to 6,has theme "Pragmatic Dialogue: the Path to a Stable Future." It tackles global development shifts,featuring programs like SME Forum and Creative Industries Forum. Cultural events too — Petersburg Seasons festival and SPIEF Sports Games. VEB.RF is title partner,Roscongress Foundation organizes. What's next for these discussions…?
