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How will AIFC contribute to integration processes and formation of EAEU’s financial space?


On the basis of the AIFC Bureau, the opening ceremony of the Expert school The Role of the Astana International financial centre in the integration processes and the formation of the financial space of the EAEU was held. Read more about the objects of the Expert school in the piece of the Information Agency.

The school aims to increase the potential of the pool of qualified experts of the EAEU member States, able to form a common financial space for the free movement of financial services, to ensure the protection of beneficiaries, as well as to expand the range of financial services and their availability to the population of the Union member States.

The opening ceremony was attended by Ambassadors Extraordinary and Plenipotentiary of Russia and Belarus, the leadership of the Astana International Financial Centre (AIFC) and the Russian International Affairs Council (RIAC), as well as experts in the field of finance, the press service of the AIFC Bureau informed.

“The pace of development of the Astana International Financial Centre cannot fail to impress, because there is painstaking work on the creation of advanced financial technologies and professional development programs, Alexey Borodavkin, Ambassador Extraordinary and Plenipotentiary of Russia to Kazakhstan, stated.

According to him, the topic of today’s expert school is relevant.

Today, the EAEU has an extensive agenda, plans for the development of the integration are painted until 2025. One of the main directions is the formation of a single financial market of the EAEU. I am convinced that the AIFC will harmoniously complement the mechanisms created within the EAEU aimed at ensuring sustainable economic growth, he said.

Alexey Nichkasov, Ambassador Extraordinary and Plenipotentiary of Belarus to Kazakhstan noted that the EAEU countries had a common task – to harmonize legislation in the sphere of regulation of financial markets by 2025.

The AIFC conducts an active dialogue with the Eurasian Economic Commission, which has become the main theme of today’s school. I believe that the AIFC will become a platform for testing new approaches and new tools. I believe that the knowledge gained within the school will benefit the countries represented today by the participants. I also hope that the results of the school will bring improvements in the integration processes in the member States of the Union and in the activities of the AIFC, he told.

In the words of Yernur Rysmagambetov, Deputy CEO of AIFC Authority, the mission of the AIFC Bureau, on the basis of which the Expert school was launched, is to form a critical mass of professionals who could work in the AIFC ecosystem.

Over the past two years, we have successfully trained and retrained one thousand and five hundred specialists in the field of finance, accounting and audit, project management, fintech etc., he said.

As the first and unique platform in the CIS, the AIFC opens up new prospects for the development of the financial market of the EAEU and creates an ecosystem to attract foreign investment in the economy of not only Kazakhstan, but also the countries of the Eurasian economic Union.

Ivan Timofeev, RIAC program Director noted this was the eighth time they had held such a School.

During this time a pool of young professionals familiar with the subject of the Union as a whole, as well as with its specific aspects � the priorities and tools of the Eurasian integration, the forecast and assessment of current achievements, approaches to teaching the Eurasian integration topics has been formed in the EAEU countries. Financial and investment issues are of critical importance, and we are pleased that in partnership with AIFC we will be able to inform experts about new opportunities in this area, and to receive from them analysis and recommendations for the implementation of these opportunities, he concluded.

It should be noted that more than 140 applications from Kazakhstan, Armenia, Belarus, Kyrgyzstan and Russia were received for training at the Expert school. More than 20 experts were invited on the basis of competitive selection. Among them are masters of best universities of the world, holders of international professional certificates, authors of publications of the best scientific journals, and managers in the field of finance, education, analysis, as well as researchers and civil servants interested in the topic of the Eurasian economic integration.

The participants will attend lectures on AIFC ecosystem, formation of a single exchange space and its integration into the world exchange trade, global challenges and trends in the development of the financial market and financial technologies, the role of human capital and professional development in the formation of international standards of the EAEU financial market, etc.

The training will also include discussions, workshops and master classes on the implementation of foresight projects and preparation of presentations that will lead to the development of specific proposals in the field of financial integration between the EAEU member States.

Source: Kazakhstan 2050