The Astana Economic Forum (AEF) is an annual event that gathers prominent politicians, businessmen and economists to discuss challenges of the global economy. In 2017 the AEF discussions focused on issues in the following three areas: Sustainable Economic Growth, World Trade and Infrastructure, Innovations and Green Economy.
The discussions on Sustainable Economic Growth culminated in the following recommendations:
- It is necessary to ensure macroeconomic stability through balanced fiscal policy and flexible monetary policy;
- To develop new measures of national wealth and welfare. The traditional GDP measure creates a false picture of economic prosperity;
- To develop small and medium-sized enterprises (SMEs) that aim innovations and participation in global processes;
- To introduce international settlement and payment unit, which will be backed by specific real assets.
Participants of discussions on World Trade and Infrastructure developed the following recommendations:
- To develop a mechanism for a new coordinated economic development policy in the framework of new globalization and de-globalization processes;
- To build a common infrastructure that can help reduce cross-border costs and increase trade turnover;
- To consider the possibility of building the “Lianyungang Port – Khorgos and Dostyk – Aktau Port – Eurasia Channel – Azov-Black Sea Basin” multimodal channel, which will increase the share of cheap water transport in Eurasian transit;
- To consider innovative approaches to address issues of information security of world trade.
Discussions on innovations and “green economy” resulted in the following recommendations:
- It is necessary to address barriers that prevent development of digital technologies;
- To stimulate Smart City practices and technologies;
- To expand collaboration in research and development, including access to experimental research results;
- To establish World Council on Green Energy under the auspices of the United Nations and Global Electronic Portal on Green Economy in order to pool efforts and coordinate national, sectoral programs.