WORLD IN THE ERA OF CHANGES
REGIONAL MACROECONOMICAL AGENDA.
NEW HORIZONS FOR THE DEVELOPMENT OF CENTRAL ASIA AND EURASIA
CITIES OF THE FUTURE
URBANIZATION, SMART CITIES AND SPACIAL DEVELOPMENT
FUTURE NAVIGATION: INNOVATIONS, NEW TRENDS, ROBOTICS AND TECHNOLOGIES 4.0
ASSETS INCLUSIVE DEVELOPMENT OF KAZAKHSTAN: ON THE THRESHOLD OF A NEW GROWTH MODEL
Managing the soft landing of the world economy
Organiser: The Reinventing Bretton Woods Committee (RBWC)
The world economy is no longer synchronized. Two biggest economies are in trade war, Europe under the Brexit, slowing global economy, declining global trade, protectionism rapidly enhanced, cross-sanctions increasing, exacerbated by geopolitical risks is apparently a ready-made recipe for a potential crisis that global economy can face in 2019. This process is being heated by the current normalization of monetary policy in developed countries, which may negatively affect the national currencies of emerging markets. Global markets are entering a new era of volatility as the world adjusts to higher interest rates after a decade of ultra-loose monetary policy.
- What will the contours of the new global economy look like in the context of full-scale protectionism?
- How will protectionism affect the growth of the global economy?
- Can these processes cause a new global economic recession, that could be triggered by the financial crisis of emerging markets (signs of crisis are already evident in the largest developing economies: Argentina, Turkey, etc.)?
- John Defterios, Emerging Markets Editor and Anchor, CNN Business
- Maurice Obstfeld, Professor of economics, University of California, Berkeley, Chief Economist at the IMF (2015-2018)
- Justin Lin, Professor, National School of Development, Peking University, People's Republic of China, Chief Economist and Senior Vice President of the World Bank (2008-2012)
- Stanley Fischer, Vice-Chairman of the US Federal Reserve Board of Governors (2014-2017), Governor of the Bank of Israel (2005-2013)
The Eurasian Economic Union for Business: Investment Expectations, Opportunities, Prospects
Organizer: Business Development Department of the Eurasian Economic Commission
Eurasian economic integration has provided significant business opportunities to liberalize access to the large common market. But entrepreneurs are not in a hurry or unable to take fully advantage of the benefits offered by the EAEU.
Development of the essential business ecosystem in the EAEU is a critical challenge for the boosting goods and services competitiveness and therefore for accelerating economic growth.
At the same time, a major concern for business development in the EAEU is the existence of various obstacles, lack of awareness and unused legal capacity granted under the EAEU law, as well as special regulatory environment for business processes in each country of the Union.
What is the contribution of integration processes to business development in the Eurasian space?
How to assess the positive impact of the Eurasian integration project on improvement of business climate in the entire EAEU region and every country individually?
How to achieve synergy in business and investments, through Eurasian integration and jurisdictional competition.
How to transform the tendency of tightening domestic regulation and the centrifugal forces of national protectionism into centripetal integration forces and to focus on investing potential in the Eurasian space?
Issues for discussion:
- The influence of Eurasian integration processes on the positions of the EAEU countries in international rankings (Doing Business, The Global Competitiveness Index).
- “Business freedom index” in an integration association: the concept and possible approaches to developing methodology and monitoring?
- How to scale up the best national practices and mechanisms for achieving the most favorable investment climate to Eurasian format?
- How to increase mutual confidence of national businesses and regulators of the EAEU countries: implementation, harmonization, administrative cooperation?
- Supranational business advocacy tools: established framework and need for increased
- The nuances of the business "life cycle" in the EAEU (establishment, operation, decline).
- Regional integration or national protectionism: how to prevent the conflict of trends taking advantage of the single market and the “business-investment” guarantees of the Treaty on EAEU?
- Stanislav Naumov, Head of the Secretariat of the EAEU Business Council
- Galiya Joldybayeva, Director of the Business Development Department of the Eurasian Economic Commission
- Amangeldy Issenov, Deputy Chairman of the Board of the Eurasian Development Bank (EDB)
- Danil Ibraev, President of the Kyrgyz Union of Industrialists and Entrepreneurs
- Yevgeniy Bolgert, Deputy Chairman of the management board of the “Atameken” National Chamber of Entrepreneurs of Kazakhstan
- Stefka Slavova, Lead Economist of the Department of Finance Competitiveness and Innovation of the World Bank’s Central Asia Regional Office
- Oleg Goshchansky, Chairman, Managing Partner, KPMG in Russia and the CIS
3 Tokyo Hall
Informal economy. Digital payments as a factor of increasing economic transparency
Organisers: Global payment technology company Visa
Informal economy limits government ability to provide services, damages competition and fosters unfair labor practices. Moving these transactions into the formal economy could bring a wide array of benefits, including less poverty, more job security, and greater access to social benefits as well as additional tax revenue to boost the development of infrastructure, education, and healthcare.
Governments around the world are focused on improving their understanding of the informal economy and addressing the fiscal and social challenges that come with widespread prevalence of the informal economy.
Research into the informal economy boosts awareness of its size and impact, as well as the role of digital payments in reducing it, which in turn can contribute to the growth of GDP and tax revenues.
A.T.Kearney, commissioned by Visa, conducted a study “Digital Payments and the Global Informal Economy”, which analyzed the scope and impact of the informal economy, as well as the role of digital payments in reducing
it. According to the study, 23% of the global economy is conducted outside the purview of governments and tax authorities, which leads to unrecorded income in the amount of more than 10.7 trillion US dollars a year.
Participants of “Informal economy. Digital payments as a factor in improving economic transparency” panel session will discuss the benefits of introducing digital technologies to increase transparency, strengthen consumer confidence and accelerate economic growth, and share successful practices in introducing innovative initiatives, research results and forecasts of financial transparency development in Central Asia when switching to digital payments.
- How do digital payments stimulate an inclusive economy and help maintain transparency for all market players?
- Barriers the “informal economy” can create to a national economy.
- What measures in the field of digital payments can be taken to overcome the barriers?
- What transparency tools / technologies will reduce the share of the informal economy?
- What role can governments of Central Asia play in speeding up the transition to a digital economy and increasing transparency?
- Konstantin Pak, Director for development of financial Sector, Association of Financiers of Kazakhstan
- Andrew Torre, Regional President of Central and Eastern Europe, Middle East and Africa CEMEA, Visa
- Vira Platonova, Senior Vice President and Group Country Manager, CISSEE, Visa
- Saken Sarsenov, Chairman of the Management Board, Kazpost JSC
Trade wars and the emergence of new economic curtain for the global economy?
Organiser: The Reinventing Bretton Woods Committee
The world is transiting fromthe dominant liberal order, that served as the basis for the modern world economy, to a more populist, protectionist and nationalist platform. In economic terms, this is largely characterized by the rebalancing of global trade policy, after a nearly thirty-year hyper-globalization cycle, that was driven by the world trade. The WTO and the global trading system were severely hit, the future of the WTO as an effective coordinator and arbitrator of world trade does not look promising now and trade wars and protectionism will impede its functioning.
- How will the ongoing trade war affect the global economy in 2019?
- Will new players be involved in rebalancing the global economy?
- What strategies should countries choose to avoid the negative effect of the trade wars?
- Is establishment of an alliance of Multilateralism realistic?
- What reforms will be required in the light of Kazakhstan hosting the WTO ministerial meeting in 2020?
- What should countries do to strengthen their domestic growth drivers, including consumption and investments, reducing their reliance on external markets?
- Yanqing Yang, Deputy Editor in Chief, China Business News
- Opening remarks: Marc Uzan, Founder and Executive director, RBWC
- Mehmet Şimşek, Turkish politician and economist, former Deputy Prime Minister of Turkey
- James Bacchus, Distinguished University Professor of Global Affairs and Director of the Center for Global Economic and Environmental Opportunity at the University of Central Florida, Former Chairman of the Appellate Body of the World Trade Organization, Former Member of the Congress of the United States
- Montek Singh Ahluwalia, Professor, Former Deputy Chairman, Planning Commission of India
- Henning Voepel, Director, Hamburg Institute of International Economics
Current systemic challenges confronting the multilateral trading system: possible solutions and adaptation to the new realities
Organisers: Ministry of National Economy of the Republic of Kazakhstan, Permanent Representative of the Republic of Kazakhstan to the United Nations Office and International Organizations in Geneva, World Trade Organization (WTO)
The multilateral trading system embodied in the WTO is currently confronted with unprecedented challenges. These include, amongst others, unilateral trade actions and counter measures amidst global trade tensions; increases in protectionist sentiments, including a new high in import-restrictive measures that increases uncertainty; blockage of appointments of Appellate Body members.
These challenges have direct negative knock-on effects on businesses and investment worldwide. Indicators show that businesses are holding off on job-creating investments, and export orders are on the decline. The prevailing situation is not only dampening business and investor confidence in the global market place; it is also impacting on global growth and job creation. Currently, two-thirds of global trade takes place today through global value chains. This illustrates the potential for knock-on effects and disruption and deterioration in trade relations resulting from protectionist measures.
Against this backdrop, the rules and institutions that facilitate trade seem increasingly fragile. The three main functions of the WTO are affected: (1) the monitoring of existing commitments seems unable to fully contain trade tensions and increasing restrictive measures; (2) the impasse on the appointment of Appellate Body members threatens to bring the dispute settlement system to a halt; and (3) the negotiating pillar of the WTO has delivered modestly, and current rules do not fully reflect modern economic realities.
One argument being made is that the trading system allows distortive trade practices to go unchecked – and that the system needs to change. There is a belief among some that the trading system is not addressing important issues in the global marketplace – issues which did not exist at the time the WTO was established.
Responding to these challenges and ensuring that the trading system remains relevant to the current realities has become a pressing issue.
Many agree that the system needs to be more efficient, more effective and more responsive to today's challenges – which include some of "old" challenges that are left unaddressed. Therefore, many are talking about the need to update the system – i.e. about WTO reform. Leaders are increasingly aware and engaged on global trade and WTO issues. There is renewed engagement from many Members on systemic issues, bringing more focus on the WTO and how it can be improved. This is positive and could potentially help find a path to solutions facing the System.
During this historic period for the multilateral trading system, Kazakhstan has been accorded the privilege to host the 12th Ministerial Conference of the WTO in June 2020 and thereby contribute to building confidence in the WTO, maintaining its relevance, and strengthening multilateral trade cooperation.
In addition to continuing to address the Doha issues, the main focus of the 12th WTO Ministerial Conference in Nur-Sultan will be to contribute to addressing the current challenges confronting the WTO and the multilateral trading system – including the various reform issues identified by Members. It is also hoped that Members will register substantial progress on the issues under the Joint Statement Initiatives from the 11th WTO Ministerial Conference in Buenos Aires – the establishment of new rules on trade-related aspects of electronic commerce, investment facilitation for development and supporting the better integration of micro, small and medium enterprises (MSMEs) into global trade.
- How to further strengthen the multilateral trading system in the face of global trade tensions and growing protectionism
- How to further improve the functioning of the WTO in its three core pillars: monitoring; dispute settlement and negotiations
- Improving/developing new WTO rules to ensure that global trade rules are relevant to the current realities of the global economy
- Further steps in preparation for the 12th Ministerial Conference of the WTO
Victor do Prado, Director of the Council and Trade Negotiations Committee WTO
- Junichi Ihara, Ambassador, Permanent Representative of Japan to the WTO
- David Walker, Ambassador, Permanent Representative of New Zealand to the WTO
- Luc Pierre Devigne, Director for Russia, Eastern Partnership, Central Asia, Regional cooperation and OSCE, European External Action Service (EEAS)
- Mark Linscott, Senior Fellow, Atlantic Council’s South Asia Center
- Ekaterina Mayorova, Director of the Department for Trade Negotiations of the Ministry of Economic Development of the Russian Federation
- Michael Hahn, Professor at the University of Bern; Director of the Institute for European and International Economic Law; Director at the World Trade Institute
- Niall Meagher, Managing Director, Advisory Center for WTO Law (ACWL)
Christian Pauletto, Professor at the International University in Geneva (IUG)
- Ernst Ulrich Petersmann, Emeritus Professor at the European University Institute (EUI) in Florence, Italy
- Maxim Medvedkov, Head of trade policy department in National University Higher School of Economics
- Daniel Crosby, Partner, King & Spalding LLP
- Khalil Hamdani, Visiting Professor at the Lahore School of Economics
- Abdel-Hamid Mamdouh, Senior Counsel, King & Spalding LLP
- Robert McDougall, Director and Principal of Cadence Global Ltd
Eye on emerging markets: how to ensure transition to high-income states?
Organiser: The Reinventing Bretton Woods Committee
Since their respective last financial crises most EMEs have been implementing more prudent policies, made stronger their governance frameworks and created financial safety nets as a buffer against adverse shocks. Nevertheless, emerging countries have become more exposed to an appreciation of the dollar and to reversals in international risks appetite. High foreign currency borrowings, the ongoing normalization process along with the contagion factor added by escalating a new trend of neo protectionism have been the ingredients of current uncertainties faced by the emerging markets.
Emerging markets have in many ways become beneficiaries of economic globalization. However, the liberal order is now replaced by protectionism in the global economy. Trade wars, protectionism, uncertainties in the global economy, energy price volatility, monetary policy normalization, geopolitical risks slow down the growth of emerging markets.
- How will these processes affect the development of emerging markets, what reforms can emerging markets undertake for more sustainable growth?
- Is the large increase of emerging-market debt, much of which is denominated in dollars, the biggest risk in the financial system?
- How can middle income states transit to higher income countries and escape the middle income trap? Can these changes be brought only by new technologies and industry 4.0?
- Massimiliano Castelli, Managing Director, Head of Strategy, Global Sovereign Markets, UBS Global Asset Management
- Jose Antonio Ocampo, Member of the Board of Central Bank, FormerMinister of Finance of Columbia, Former UN Undersecretary-General for economic and social affairs
- Yaroslav Lissovolik, Senior Managing Director — Head of Research at Sberbank Investment Research (CIB)
- Chatib Basri, Director, Mandiri Institute, Former Minister of Finance, Indonesia
- Bandid Nijathaworn, President and CEO of the Thai Institute of Directors, former deputy Governor at the Bank of Thailand
CAREC corridors for the future: learning from Economic Corridor Development in Asia
Organiser: Asian Development Bank (ADB)
The myriad examples of successful economic corridors in Asian countries show their power in mobilizing private and public investments, promoting high-quality growth and jobs, and raising the knowledge-intensity of exports. Economic recovery and favorable trend observed in Central Asia recently add further momentum to the development of regional economic corridors. The Almaty-Bishkek Economic Corridor under the Central Asia Region Economic Cooperation (CAREC) Program is one example of creating opportunities for projects in agriculture, tourism, health, and transport through joint efforts. Cross-border economic agglomeration allows business to specialize, capture economies of scale and improve economic diversification and competitiveness. To expand regional economic dynamism, CAREC has also started the development of a new economic corridor among Kazakhstan (Shymkent), Uzbekistan (Tashkent), and Tajikistan (Khujand). The session will discuss the opportunities created by economic corridors development in the world and focus on promoting economic diversification in the CAREC region by engaging with the public and private sector.
- How to select “winning” regional corridors that have a high chance of success?
- What are the prerequisites of successful corridors?
- In what ways can cross-border special economic zones (SEZs) and industrial parks (IPs) promote economic corridor development?
- What are the requirements for establishing successful SEZs and IPs?
- What are the roles of the private sector for economic corridor development?
- What policies are needed to maximize benefits of small and medium enterprises for participating in economic corridor development?
- In what ways can development institutions and regional platforms like the CAREC Program support the development of regional economic corridor development?
- What are effective institutional arrangements for managing a regional economic corridor that crosses more than one country and involves sub-national entities?
- How to ensure coordinated role of governments at national, provincial and local level?
- Werner Liepach, Director General of Central and West Asia Department, ADB
- Madi Takiev, ViceMinister of National Economyof the Republic of Kazakhstan
- Zahid Hamdard, Deputy Minister, Ministry of Finance, Afghanistan
- Gulru Jabborzoda, Deputy Minister, Ministry of Economic Development and Trade, Tajikistan
- Shixin Chen, Vice President, ADB
- Paul Vallely, Program Leader for Connectivity and Infrastructure, Central Asia Office in Almaty, World Bank
- Aradhna Aggarwal, Professor of Copenhagen Business School
Open discussion: the world without multilateralism?
Organiser: The Reinventing Bretton Woods Committee
The world is entering a new, alarming geopolitical phase, when it is not only multi-polar, but also multi-conceptual. The idea that all major economies (followed by smaller economies) would gradually come to certain regulations and institutions is no longer an axiom. All this brings new dangers: military tensions, disruptions in the economy and trade, destabilization of the feedback between changing international relations and the internal political landscape of individual countries.
The liberal world order established by the United States a little more than seven years ago is crumbling. Geopolitical alliances that existed for many years are changing. Developing countries are facing enormous economic challenges, and the whole world is probably entering a phase of the new major recession.
Trade wars clearly demonstrate the instability of the WTO in resolving conflicts between its largest members. At the same time, regionalization processes are getting enhanced and the role of international institutions is declining. It becomes easier and faster for countries to find a compromise at the regional level, where they can negotiate more beneficial conditions, and the interests of all parties are taken into account. The transformation of the global system is gradually turning into a fragmented model of regional unions. Thus, the system of regional unions with obvious leaders fragments the global system from inside.
- What key risks are associated with the collapse of the global cooperation system?
- Technology is driving the rapid decentralization of power; the world is at the edge of full-scale technology revolution and protectionism. What impact will this process cause?
- How can the world strike a balance between the seemingly competitive forces of sovereignty and security, technology and society, as well as equality and prosperity?
- Peter Frankopan, Senior Research Fellow at Oxford University and Director of the Oxford Centre for Byzantine Research
- Armen Sarkissian, The President of the Republic of Armenia
- Alikhan Smailov, First Deputy Prime Minister of the Republic of Kazakhstan, Minister of Finance of the Republic of Kazakhstan
- Stanley Fischer, ViceChairman of the US Federal Reserve Board of Governors (2014-2017), Governor of the Bank of Israel (2005-2013)
- Carlo Monticelli, Vice Governor, Council of Europe DevelopmentBank
- Vladimir Yakunin, Chairman of the Supervisory Board of the Dialogue of Civilizations Research Institute, Former Chairman of Russian railroads
- Marc Uzan, Founder and Executive director, RBWC
- Riaz Khokhar, Minister of Foreign Affairs of Pakistan(2002 – 2005)
The world in technological age: how industry 4.0 affects global growth?
Organiser: The Reinventing Bretton Woods Committee
We are living in an era where robotics, artificial intelligence, automation, digital platforms, and other innovations are completely changing the fundamental nature of economic activity. Eight of the world’s most highly valued companies are technology businesses. With a market capitalization of 4,7 trillion dollars, and a new type of workforce, these companies can have a huge macro impact. In turn, these developments have the potential to reshape the financial system and the economy as a whole. The discussion will address key business, technical, and even ethical issues related to the new age of the Fourth Industrial Revolution.
- What impact will the technological era have on the global financial system and the entire economy?
- What key business, technical and ethical issues will be relevant in the era of the fourth industrial revolution?
- What implications will robotics, artificial intelligence, automation, digital platforms, and other innovations have on the labor market and human capital?
- Klaus Mangold, Chairman of the Supervisory Board of TUI AG, and of the Supervisory Board of Knorr Bremse AG, Germany
- Xavier Sala i Martin, Professor of Economics, Columbia University, The founder of Global Competitiveness index
- Risto Siilasmaa, Chair of the Board of Directors, Nokia Corporation
Plenary strategic session "G-global Platform”
Organisers: International Secretariat of G-Global, UN, UNCTAD, BBC World News, “Eurasian Economic Club of Scientists” Association”, Club De Madrid, Ban Ki-Moon Center for Global citizens
Co-Organisers: International Silk Road Academy of Sciences, International Green Technologies & Investments Center, Islamic Development Bank, “Global Silk Road” Association
The International Secretariat of G-Global is a non-governmental organization that promotes the international initiatives of the First President of the Republic of Kazakhstan - Elbasy Nursultan Nazarbayev with the aim to improve the efficiency of the global community through an integrated, open and equal dialogue of the peoples of the world. During 7 years of operations, G-Global has become a recognized and reputable international center that brings together more than 30 thousand scientists, practitioners and experts from 147 countries.
The International Secretariat G-Global:
- has a high status of adviser to the United Nations Economic and Social Council (ECOSOC)
- has the status of consultant observer of the UN Conference on Trade and Development (UNCTAD)
- is a member of the Board of Trustees of the Ban Ki-moon Institute for Sustainable Development
- is a partner of the Madrid Club
The activity of the G-GLOBAL Secretariat is to consolidate the global expertise with the aim to search for new models of global economic growth and to meet the challenges of the time in the context of global transformation.
- Promotion and institutionalization of projects initiated by the First President of the Republic of Kazakhstan - Elbasy Nursultan Nazarbayev on the UN platform along with international partners
- Presentation and discussion the Further Development Concept of the International Project G-Global for 2019-2021
- Organising international research and practical conferences for each project aimed at developing suggestions and recommendation by the expert community for their implementation globally
- Organizing global fora, online conferences, interactive sessions in collaboration with UN agencies and key partners of the regions
- Establish G-Global Club to further promote and advocate the G-Global project
- Further online promotion using interactive G-Global platform
- Based on the outcomes of the conference to suggest to the Heads of State, Heads of Governments, the UN General Assembly and international organizations to jointly hold G-Global Forum in 2021, the year of thirtieth anniversary of Independence of Kazakhstan
- Dr. Ariel Cohen, Chief expert of the Atlantic Council
- María Elena Agüero, Secretary General of WLA Club de Madrid
- Roza Otunbayeva, the President of the Kyrgyz Republic (2010-2011)
- Nurlan Akkoshkarov, SCO Deputy Secretary-General
- Rae Kwon Chung, The Global Energy Prize International Award Committee Chairman, Winner of the Nobel Peace Prize
- Nurtay Abykaev, President of Kazakhstan National Academy of Natural Sciences
- Dr. Hyun Oh-Seok, Former First Deputy Prime Minister and Minister of Strategy and Finance of the Republic of Korea
- Sergey Stanovkin, Head of BBC World News regional Representation in Eurasia
- Monika Froehler, CEO of the Ban Ki-moon Centre for Global Citizens
- Murat Karimsakov, President of EECSA, First Deputy Head of the International Secretariat G-Global
Organiser: JSC Economic Research Institute
Summing up of the results, discussion of topical issues and recommendations of international experts of the Astana Economic Forum are particularly relevant for organizers.
The session will be attended by co-organizers of sessions, representatives of public authorities, international experts and Kazakhstani economists.
- Discussion of the AEF-2019 international experts’ recommendations
- Discussion of the AEF-2020 topic and focal points
- Yerlik Karazhan, Chairman of Economic Research Institute JSC
- Organisers of sessions and forum guests