(by Martin Pioch)
On the 21st of April 2017 the Department of World Economy held a round-table at the Faculty of Economics of Saint Petersburg State University with the title “The EU and BRICS in the International Trade System”. This PRIMO related event took place within the framework of the International Economic Symposium in St. Petersburg, where Russian and foreign experts discussed contemporary economic challenges of Russia and the world. This panel was organized and moderated by Prof. Sergei Sutyrin, Head of the World Economy Department, and his colleague Dr. Alexandra Koval, who are also the supervisors of ESR6 Martin Pioch.
During the round-table Russian and foreign academics discussed economic challenges of the EU and the BRICS, as well as their rather complicated economic relations. Miroslav Jovanović, Professor of the University of Geneva presented hisrather critical view on the Eurozone and modern European Union problems, while the report of Dr. Patricia Garcia-Duran Huet, Associate Professor of the University of Barcelona, was dedicated to the EU trade policy reaction to the BIC (i.e. BRICS before Russia and South Africa joined the club).
Boris Kheyfets, Chief Researcher of the Institute of Economy of the Russian Academy of Sciences, talked about the potential of informal integration, BRICS+ and BRICS++ in particular, and about modern perspectives of development for the BRICS group. Of great interest were also the findings of Natalia Volgina, Professor of the Peoples’ Friendship University of Russia, on BRICS participation in global value chains and their distribution of gains.
Irina Platonova, Professor of Moscow State University of Foreign Affairs (MGIMO), opened the discussion about low economic growth rate as a “new normal” situation of our times. The final report of the round table discussion was made by Arkady Kuradovets, Associate Professor of Belarus State Economic University, who talked about current economic situation in Belarus and future perspectives for the country as a member of the Eurasian Economic Union.
Foreign guests took an active part in the discussion, in particular, interesting comments and questions were made by Prof. Guan Xueling, the Director of the Russian Research Center at Renmin University of China and Meryl Thiel, Researcher of Federal University of Rio de Janeiro, Brazil. In the discussion Discussants also talked about the future of the EU and Brexit consequences, the limits imposed by formal institutions, the benefits of economic mega-partnerships, and prospects of the EU-BRICS cooperation. More information in the presentations of key speakers of the round table…