At the St. Petersburg International Economic Forum this year, the spotlight was firmly on the burgeoning cooperation between emerging markets, signaling a significant shift in the global economic landscape. One of the most notable developments was the deepening partnership between China and Russia, particularly in areas like business collaboration along the Northern Sea Route and the development of urban and agricultural sectors in the Russian Far East.
In an exclusive interview with Aaron Liu from CGTN, Alexey Chekunkov, the Russian Minister for the Development of the Russian Far East and Arctic, shed light on how this China-Russia cooperation is poised to bring profound transformations to both regional and global economies. He emphasized that joint projects not only bolster bilateral relations but also contribute to the stability and growth of the global market.
“Our partnership with China is entering a new phase,” Chekunkov remarked. “By working together on vital infrastructure and development projects, we are setting a precedent for how emerging markets can drive global economic growth.”
The forum also highlighted the growing influence of emerging markets worldwide. Economic and trade cooperation among these countries has become a focal point for international discourse. Aaron Liu also engaged with Ben Joubert, Director of the South African Department of International Relations and Cooperation, and Hala Helmy Elsaid, Egypt’s Minister of Planning and Economic Development, to delve into the scale of trade and investment among emerging markets.
Elsaid noted, “Emerging economies like ours are exploring multifaceted cooperation opportunities. By collaborating, we can overcome common challenges and unlock new avenues for sustainable development.”
Joubert added, “The increasing influence of emerging markets is reshaping global trade dynamics. It’s crucial that we foster strong economic ties to ensure mutual prosperity.”
The discussions at the forum underscored a collective vision among emerging economies to not only enhance trade and investment but also to collaborate on addressing global challenges. As these markets continue to gain prominence, their cooperative efforts could redefine economic alliances and drive a new chapter in global economic development.
Reference(s):
Emerging markets steering new chapter in global economic landscape
cgtn.com
