World Anti-Crisis Conference Creates Meaningful Dialogue on Global Challenges

The World Anti-Crisis Plan Concept was approved during the second World Anti-Crisis Conference(WAC) held May 22 as part of the seventh Astana Economic Forum. The plan was approved after a major conference known as the Dialogue of Leaders.

During that conference and the forum, leading policymakers and politicians along with representatives of global think tanks and multinational businesses reflected on recent trends in the most urgent issues includingthe global financial crisis, poverty eradication, sustainable and inclusive developmentand financial markets stability.

“Against the backdrop of the unabated repercussions of the global financial and debt crisis,social tension in the Eurozone andsocial upheaval in the Arab world, we face new challenges,”President Nursultan Nazarbayevsaid at the second WAC.

The World Anti-Crisis Plan Concept accepted at the conference is aimed at providingworkable solutions for global problems that are developed by the inclusive participation of different global players, most importantly, developing countries.

The World Anti-Crisis Plan Concept states: “The paradox of a world built on equality and democratic values is that countries are represented differently and play different roles in global decision-making. In a rapidly changing world, where the poles of growth are shifting towards developing countries, it is necessary to revise principles and established rules for global governance. Developing countries often play the role of passive observers, but together, they constitute an important group and can play a crucial role in solving global economic problems.”

In this regard, Kazakhstan’s initiative to convene the Astana Economic Forum and then to combine it with the World Anti-Crisis Conference has been proven successful. The World Anti-Crisis Conference, supported and mandated by the United Nations, plays an active role in creatingan interactive relationship between various groups starting with international financial management bodies to international organisations in both advanced and developing countries. The conference brings together representatives from 130 countries, international organisations and financial institutions.

“For more than 20 years, the Republic of Kazakhstan has served as a stable bridge between Europe and Asia and has been an active partner and member of the United Nations Organisation, the UN European Economic Commission, the UN Economic and Social Commission for Asia and the Pacific, the International Monetary Fund, the World Bank, the Asian Development Bank, the European Bank for Reconstruction and Development, the Islamic Development Bank and many others international financial institutions,”the document states.

Although still a young and fledgling project, the World Anti-Crisis Conference held within what is known as the G-Global dialogue platform, has become a useful mechanism for ensuring true global representation for the developing world by making its voice better expressed and heard.

“Our forum has transformed into a major aspect of international economics. Proposals and ideas made at the forum were presented by Kazakhstan at the G20 Summit in September 2013. The virtual global dialogue platform G-Global, embracing more thanfourmillion users has gathered here around 10,000participants from 150 countries. The current forum attracts very well regarded representatives,” President Nazarbayev said in his speech at the forum.

It is important to evaluate the complexity of the problems tackled by the WAC and G-Global as well as theirdeep roots. No single forum or organisation is able to solve these problems in one night. For this reason, G-Global and the World Anti-Crisis Conference serve as mechanisms that unite a wide range of participantsin developing effective measures to overcome economic and financial crises, preventfuture recessions and ensure long-term balanced growth in the global economy.

Thefirst World Anti-Crisis Conference was conducted in May 2013 with support from the UN General Assembly. Its main outcome was the Astana Declaration and the guidelines forthe World Anti-Crisis Plan,which were among the 68 official documents of the 68th Session of the United Nations General Assembly last year.

The WAC is committed to achieving the UN Millennium Development Goals. The Concept of the World Anti-Crisis Conference states that many countries have managed to reduce poverty, maternal and child mortalityand ensure access to primary education. Significant progress was made in combating malaria, tuberculosis and HIV. Because of the recent global financial crisis, international initiatives are needed to achieve the Millennium Development Goals.

“Against the background of the economic recovery of developed countries, we are witnessing a wide-scale decrease inthe competitive capabilities of developing countries. Experts forecast theexacerbation of the capital flight [out of developing world]under whicha negative scenario could lead to a contraction in investments in developing countries by50 percent or more,” President Nazarbayev said at the forum.

Along with reflecting current measures of achieving Millennium Development Goals and drawing on experience, Kazakhstan’s leaderproposed developing a “Roadmap for Poverty Eradication,”which proposes using a broad cadre oftools to develop human capital in the poorest Asian and African countries. “It is imperative to depoliticise economic relations to the maximum extent possible,” President Nazarbayevsaidat the forum. “We all need to avoid setting up an artificial opposition between countries and regions and renounce conflict rhetoric.”

President Nazarbayev discussed plans to create a supranational body forregulating financial markets as part of the Eurasian Economic Union in Almaty by 2025, making Kazakhstan’s former capital a financial centrealong the New Silk Road.

Among Kazakhstan’s new initiatives is the proposal to develop an effective international instrument for guaranteeing investments and contractual liabilities. This proposal is aimed at increasing economic activity amongst the populations of the poorest countries, which lie at the heart of the Roadmap for Poverty Eradication. Investment in people, the development of entrepreneurship, and infrastructure are key tools,” concluded the President.

Overall, the WAC proved to be an effective tool able to bring together representatives of countries with different levels of development for inclusive dialogue. Moreover, the decisions of the conference are brought to the attention of the world community through the United Nations and other international organisations, while Kazakhstan’s initiatives undertaken within theWAChave had measurable practical impact.