Interview: Alignment of Belt and Road, EAEU offers regional growth, says Kyrgyz economist

Further development of BRI-EAEU cooperation requires intensified work in infrastructure, regulation and finance, said Kyrgyz economist Iskender Sharsheev.

BISHKEK, Aug. 16 (Xinhua) -- The alignment of China's Belt and Road Initiative (BRI) and the Eurasian Economic Union (EAEU) is boosting connectivity across Eurasia and creating new opportunities for regional development, Kyrgyz economist Iskender Sharsheev told Xinhua.

The alignment goes beyond "preferential trade," focusing primarily on synchronizing processes in areas such as customs, standards, logistics and e-commerce, said Sharsheev.

In reality, he added, it has accelerated land corridors from China to Europe across Eurasia, advanced container and refrigerated logistics, and made border crossings more predictable, delivering clear benefits for EAEU countries.

"Kazakhstan is strengthening its role as a transit hub; Kyrgyzstan is getting a chance to monetize through terminals, Free Economic Zones and last-mile services; Russia and Belarus are increasing the diversification of sales markets in East and Southeast Asia, and Armenia is increasing niche supplies and technological cooperation," he said.

Sharsheev stressed that further development of BRI-EAEU cooperation requires intensified work in infrastructure, regulation and finance. "If these three pillars advance in parallel, transport corridors will not only become shorter, but also cheaper and safer for business," he said.

His comments came as the Eurasian Intergovernmental Council, an EAEU body, met in Kyrgyzstan's Issyk-Kul region from Thursday to Friday. The economist noted that over the decade since its creation, the EAEU has grown into a functioning institution with a supranational regulator, unified customs rules, and virtually free access for citizens to member states' labor markets.

"At the micro level, this has reduced transaction costs for enterprises and households; at the macro level, it has boosted mutual trade and created a field of stability that shields businesses from external shocks," Sharsheev said.

The expert also noted that the EAEU's active external engagement is particularly important, including concluding free trade agreements with several countries, cooperating with various associations, promoting digitalization through measures such as single-window systems and electronic invoices, and developing common rules for future energy markets.

These initiatives could "provide an economic effect in logistics, certification and competition," he said. ■