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May 14, 2018

Energy Issues to be Discussed at Supreme Eurasian Economic Council meeting

Specific practical steps on developing cooperation in the field of nuclear and renewable energy will be discussed during the meeting of the Supreme Eurasian Economic Council on 14 May 2018 in Sochi. According to kremlin.ru, as the chair of the Eurasian Economic Union (EAEU) in 2018, Russia proposed a busy agenda for discussion.

“The participants are expected to adopt major guidelines for the macroeconomic policy of the EAEU countries for 2018-2019 and map out practical steps on promoting cooperation in nuclear and renewable energy, digital economy, medicine and social policy,” as announced on the official website of the President of the Russian Federation.

The participants will also review the current issues of the EAEU activities, while Vladimir Putin will hold a number of bilateral meetings with the leaders of the EAEU member countries.

The World Bank has calculated that the implementation of joint digital agenda until 2025 will result in the additional aggregate EAEU GDP growth up to 1% per year, as well as 8 million work places and 50 billion USD in business cost savings. These and other multiplied effects stem from the EAEU combined efforts within the framework of joint digital projects as well as coordination of state policy events and approaches towards digital economy development. Strategic guidelines for the EAEU further development will be discussed at the business program sessions of the St. Petersburg International Economic Forum (SPIEF) on 24–26 May 2018. Moreover, a part of the SPIEF-2018 business program will be dedicated to energy and in particular to digitalization of high-tech industries with complex production processes, such as nuclear industry.

Modernization and implementation of digital technologies in the energy sector is one of the key areas in further development of the industry. This topic will be the focus of the International Forum Russian Energy Week as Minister of Energy Alexander Novak confirmed at the meeting of the Organizing Committee in charge of preparing for and holding the Russian Energy Week. The International Forum Russian Energy Week will take place on 2–6 October 2018 in Moscow.

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