V ASTANA ECONOMIC FORUM: NEW GLANCE AT GLOBAL ECONOMIC SYSTEM

Astana, May 25: The challenges and prospects of the economic development in the context of global transformation were discussed at the V Astana Economic Forum on 22-24 May at the Independence Palace of Astana, Kazakhstan’s capital. The annual international forum once again brought together the world’s leading experts and financiers, distinguished politicians, 11 Nobel Prize winners as well as heads of international organizations and regional associations.

This year the highly anticipated forum took place for the fifth time and hosted more than 50 events with participation of more than 6500 delegates from 85 countries. It has already managed to become a major international platform for dialogue.

Speaking at the opening ceremony of the forum, President of Kazakhstan Nursultan Nazarbayev welcomed the key-note speakers and forum participants.

He then went on defining the main challenges and problems of the world economy, focusing on the world currency and economic crisis, which escalated into a social crisis of the world overtaking many developed countries.

Speaking of the project “G-GLOBAL” that he initiated last year, President Nazarbayev proposed to test the new format of dialogue within the Astana forum. The idea rapidly received broad support in the political, expert and business circles.

“In few months the G-GLOBAL official website became popular. More than 30,000 users from 140 countries have registered to discuss the topical issues of innovative development, nuclear and environmental safety, ethnic and religious tolerance, and other aspects of geopolitics,” President notes.

Since the well-being of the countries is impossible without a stable and secure world, President Nazarbayev offered to develop the fundamental principles of international order in the XXI century which should be mandatory for all states.

“A constructivism of the human civilization development, in my opinion, can be set up on the basis of five principles, in other words, the principles of G-GLOBAL,” Kazakh President says.

The first principle is an evolution, not revolution.

The second principle is justice, equality, and consensus. “It is vital that in the long term the solutions of global problems at all levels would be made by consensus,” Nazarbayev says.

The third principle is a global tolerance and trust. According to President Nazarbayev, tolerance should play a major role in relationship between states regardless of the country’s geo-political weight and influence, level of development of economy and society.

The fourth one is the global transparency.

The last but not the least is the constructive multilateralism.

In the Kazakh President’s opinion, the only alternative solution to the present-day threats and challenges is to create a constructive multilateralism, a balanced system of geopolitical checks and balances.

“Within such system powerful integration associations should co-exist peacefully and work closely. In the near future, the Eurasian Economic Union should be among them. I am convinced that only within a constructive multipolar system the world will be able to solve pressing problems of global economy and elaborate sustainable development,” President says.

Concluding his speech, President Nazarbayev called upon the forum participants to address with an appeal the UN on holding the “World Anti-Crisis Conference on Elaborating the Global Anti-Crisis Plan”.

The other key-note speakers including the leading economists, politicians and representatives of international organizations also addressed the forum participants.

Turkish Prime Minister Recep Tayyip Erdogan said that today when the European and global economy has slowed the pace of development, the reliability and stability play the key role.

UN Deputy Secretary General for Economic and Social Affairs Sha Zukang also delivered the message of UN Secretary General Ban Ki-moon to the forum participants.

“Today we have mistrust between the government and financial institutions, facts of inequality, and therefore we need a revolution in thinking in the name of justice and sustainable development. The new economic model must be based on ecological sustainability and social development with the involvement of new social strata,” Ban Ki-moon says.

Ex-President of Germany Horst Koehler mentioned that the unstable world economy, especially in the euro zone is due to anthropogenic factors.

One of the highlight events of the forum was the “Dialogue of Leaders: The New Financial and Economic Policy” which convened some of the world’s most prominent figures in economics, business, politics, and the mass media for holding a discussion of the current situation in the global economy and ways of resolving topical issues during the dialogue

The other major events were the permanent Conference of Finance Ministers of the CIS countries, which focused on countering the regional recessions as well as the development of the new mechanisms of the financial and economic stability, as well as the third investment forum “Astana Invest 2012” which reviewed investment opportunities and future prospects for Astana.

Within the V Astana Economic Forum the investment agreements totaling to US$ 1.5 billion were signed.