Posted:
05.11.2021 15:50:00
Verona forum invites Belarusian business
The SB. Belarus Segodnya journalist has asked the President of Conoscere Eurasia and Chairman of Banca Intesa, Professor Antonio Fallico, of who is lobbying for the introduction of sanctions, about the ticking time bomb and which Belarusian projects may interest Italian business — among other issues
— Mr. Fallico, the 14th Eurasian Economic Forum brought together prominent politicians, well-known scientists, businessmen and public figures from many countries in a face-to-face format. One of the key issues of the meeting was overcoming the dividing lines between East and West. Has the forum become a necessary brick in building a bridge of trust between the leading players in the world?
Antonio Fallico
— Honestly speaking, I did not expect to see so many forum participants this year. We had an increase in attendance in absolute figures even compared to 2019. Actually, figures are not an important indicator. It is much more important that we had very interesting discussions and panel sessions. We held a special session: ‘Structural Changes in the Economy and Future of Energy’. It featured the largest companies from Russia, the USA, the UK and elsewhere. Key figures of the oil and gas industry delivered speeches.
The main conclusion (I agree with it) is that it is necessary to deal with the energy transition in a balanced way, taking into account different interests and with a rational approach to the problem.
The second important block is financial. The forum participants said that it is now no longer possible to finance the coal industry and in general all those technological and industrial procedures that pollute the environment. Financial structures should be active and carefully look at each individual project, assessing where advanced technologies are used, which of them pollute our nature less, and which ones pollute more.— The energy crisis that has engulfed Europe was discussed at the forum. What do you see as the reasons for the jump in gas prices in the EU countries? What should be the energy strategy today?
— Getting acquainted with the statistics, I noticed that, in 2018, $37.4 trillion was invested in so-called sustainable finance. In 2020, $1 trillion worth of so-called green bonds were issued. All this is good, but at the same time there was a disinvestment in traditional energy, in construction of pipelines and other elements that make up traditional energy. This is a too radical and abrupt a move.
If the money went only to solar panels and wind turbines, then we understand why the Europeans have found themselves in the present position. This is because wind, solar, and other types of alternative energy are unstable. They are available now but might disappear tomorrow. To ensure constant generation and supply of energy, appropriate conditions should be created.In our situation, natural gas reserves in underground storage have fallen, and prices have skyrocketed. Therefore, I would like to note once again that the financial sector is becoming more attentive and active when evaluating various projects.
— Europe is facing another big problem: migration...
— This is a global problem. You should always look for the reason. We need to think about how to eliminate these causes, how to develop a strategy of action, on the one hand, and tactics — on the other.
After twenty years of American presence in Afghanistan, what do we have? A huge number of people are looking for somewhere to escape to just live normally. The same can be said about Libya, and Syria to a certain extent. Many countries have been viewed through the colonial prism for a long time. After colonialism formally ended, we decided that we were so clever to continue to govern these countries ourselves. What we consider democracy should be the same democracy with them. This is a serious structural problem that cannot be solved in two days.
This is a time bomb that will explode sooner or later. No walls will be able to hold anything back. If we fail to create a normal economic system, ensure development and a decent standard of living for people in their own countries, but rather bring them war, then what do we want after that?There is no need to give these countries any gifts, but it is necessary to ensure a policy of independent development that could lead to good results. This means that we need to recognise their sovereignty and ensure non-interference in their affairs.
Of course, we must also think about investments with the help of financial institutions that are available, for example, in the UN system, and try not to speculate on existing problems.
— During the pandemic, medicine and pharmaceuticals are areas in which new opportunities for international co-operation are opening up. What transformations are taking place there?
— Healthcare is becoming a very important industry for investment. It is turning into a driver of the world economy. At the same time, it is necessary that constant work is carried out, designed for a long period, to change the economic model.
It is important to solve the problem of freedom of movement of people (which, by the way, I also lack), the recognition of vaccines. Recently I visited a European country and had to take a PCR test three times in six days. This is absurd.
I was vaccinated with ‘Sputnik V’, everyone recognises that this is an excellent vaccination. However, as far as I know from my sources, the recognition of ‘Sputnik V’ in the European Union will not happen soon. Some formal administrative issues are put forward, requirements are formulated in different ways. Representatives of the European Medicines Agency (EMA) believe that they need to visit all the sites where ‘Sputnik V’ is produced. There are also questions about the unified standard of QR codes.
— Authoritative speakers spoke about the need to get rid of such a rudiment as sanctions during the forum. Why are such pressure tools still used?
— The neoliberal system has led to the emergence of a structure of society, which we call post-democratic. That is, formal democracy exists, but as the crisis unfolded, this whole system became a prisoner of various lobbying groups. Simplifying (though not quite accurately), we can call this lobby Atlantic.
Verona It may seem that western politicians determine the rules of the game. However, in fact, various lobbying groups in the Atlantic segment develop decisions and then put politicians in such a position that they are forced to accept them. In fact, this is aimed at eliminating competition. It is these lobbying groups, which have gained a foothold in the Atlantic system, that are the source of those sanctions with which they want to weaken both Russia and Belarus.
— How did co-operation between Italy and the EAEU countries develop in 2021? Which Belarusian companies could show themselves at the Verona platform in the future?
— Trade relations and business co-operation with the countries of the Eurasian Economic Union have grown, but, unfortunately, not as much as we would like. We hope that, next year, we will return to the usual full-scale work without restrictions.
I would like to urge Belarusian business to take a closer look at the Verona forum. During the next anniversary forum, we would like to see a more active and broad representation of Belarus — including authorities, government, and ministries.Belarus could present its possibilities here. I think projects in the field of infrastructure development and agriculture would be very interesting for European businesses. Banca Intesa could finance implementation of such projects, not only from Italy, but also from Russia, if there are requests from Belarusian companies.
We have a co-operation agreement with the Belarusian Chamber of Commerce and Industry. During the seminars in Rome, we held a special session dedicated to collaboration with Belarus. Belarusian enterprises were present there and we’d wish this business conversation to continue.
By Marta Astreiko
