Economy & Trade

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  May 9, 2023 by Silk Road Briefing
  

  Eurasian Economic Commission Discusses Digital & Electronic Customs Transit with China

  Customs cooperation between the Eurasian Economic Union and China were discussed at a meeting of the working group at the headquarters of the Eurasian Economic Commission. It was attended by representatives of the customs block of the Commission and authorized officials of the EAEU countries: Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia.
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  May 8, 2023 by Silk Road Briefing
  

  The Growing Role of the Eurasian Development Bank

  We examine the future prospects for the EDB as Russia reduces its shareholding  By Farzad Ramezani Bonesh Introduction The Eurasian Development Bank (EDB) is an international financial institution that was established by Russia and Kazakhstan in 2006. They were subsequently joined as members by Armenia and Tajikistan in 2009, Belarus in 2010, and Kyrgyzstan in[…..]
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  May 8, 2023 by Silk Road Briefing
  

  The Shanghai Cooperation Organisation Meets In Goa

  Bahrain, the Maldives, Myanmar, Kuwait, and UAE Join As Dialogue Partners With English To Be Adopted As An Official Language, Yet Strategic Tensions Remain Among Development Plans By Chris Devonshire-Ellis Foreign ministers from the members of the Shanghai Cooperation Organisation (SCO) have been meeting in Goa, India, where they have been discussing deepening economic and[…..]
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  May 4, 2023 by Silk Road Briefing
  

  Turkmenistan To Coordinate Central Asian CAREC Transit Project

  Ashgabat takes on increasing responsibility in multilateral INSTC and Middle Corridor development projects By Chris Devonshire-Ellis   Representatives of the State Customs Service of Turkmenistan met this week with representatives of the Asian Development Bank (ADB) and the Central Asia Regional Economic Cooperation (CAREC) Program on the CAREC Advanced Transit System and Information Common Exchange[…..]
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  May 3, 2023 by Silk Road Briefing
  

  Iran’s INSTC Rasht-Astara Railway Bottleneck Problem To Finally Be Resolved

  Questions over applicable rail gauge usage have delayed completion  Tehran expects to sign an agreement with Russia on the completion of the Rasht-Astara railway section in Iran and start construction in the near future, Kazem Jalali, the Iranian Ambassador to Russia said, speaking at the Caucasus Investment Exhibition on Wednesday (May 3).
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  May 3, 2023 by Silk Road Briefing
  

  Azerbaijan-Uzbekistan Bilateral Trade Up 54%

  Shokhrukh Gulamov, the head of the Main Directorate for the CIS countries of the Ministry of Investments and Foreign Trade of Uzbekistan, has stated that in trade relations with Azerbaijan, in 2022 bilateral trade reached US$181 million, up 54 percent year-on-year. “And this year we are also seeing a growth trend in trade”
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  May 2, 2023 by Silk Road Briefing
  

  Eurasian Economic Commission Develops Technical Regulatory System With China

  The Eurasian Economic Commission (EEC), the governing body of the Eurasian Economic Union (EAEU) Free Trade Bloc, has been holding meetings with China’s State Administration for Market Regulation (SAMR) with the participation of experts from the Ministry of Ecology and Environment of China.
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  April 30, 2023 by Silk Road Briefing
  

  Iran-Central Asia Multilateral Trade: Development & Prospects

  The development of the INSTC will provide opportunities to increase Iranian-Central Asian trade. We examine the potential opportunities. By Farzad Ramezani Bonesh Iran’s approach to Central Asia In December 1991, Iran was among the first countries to recognize the emerging independent republics in Central Asia, and by mid-1992, it had opened embassies in most of[…..]
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  April 30, 2023 by Silk Road Briefing
  

  Argentina To Use RMB Yuan In Trade Settlements With China

  Buenos Aires to drop US dollar use from US$1 billion monthly China trade Argentina will start paying for its Chinese imports in RMB Yuan rather than US Dollars, its government announced last Wednesday. Buenos Aires said it aims to pay for around US$1 billion of April Chinese imports in Yuan instead of dollars and after[…..]
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  April 27, 2023 by Silk Road Briefing
  

  China’s RMB Yuan Overtakes US Dollar Use In China’s Foreign Trade For The First Time

  China’s RMB Yuan surpassed the US dollar to become the most-used currency in China’s cross-border transactions last month, according to data from China’s State Administration of Foreign Exchange (SAFE). Cross-border payments and receipts in RMB Yuan surged from the equivalent of US$434.5 billion in February to a record US$549.9 billion in March, according to calculations[…..]