International youth foresight session "The Economy of Trust as the Key Driver of Integration in Greater Eurasia"

Young students and expert, coming from Europe and Asia, gathered to discuss about possible future scenarios regarding the economy of trust as a key driver of integration in Greater Eurasia.

How to transform the economic cooperation of the countries of Greater Eurasia, with different index of human capital development and huge cultural and social differences, in order to make such development mutually beneficial? Is it possible and how to increase the level of trust in the implementation of joint projects within the format of specific economic indicators? How to build a space of common prosperity and trust in the foreseeable Future?

To look for answers to these questions, young people from 25 countries gathered during the international youth foresight session “The Economy of Trust as the Key Driver of Integration in Greater Eurasia”, on May 26, 2018, in the framework of the youth program SPIEF’18.

Международная молодежная форсайт-сессия на ПМЭФ — Russia. St. Petersburg. During the session “The Economics of Trust is the key driver of the integration of big Eurasia” at the International Youth Economic Forum in the framework of the 22nd St. Petersburg International Economic Forum. Sergey Bobylev / photo agency TASS

Divided into several project teams, the participants grouped into five teams, designed creative research projects and provided solutions for the implementation of the economy of trust in the field of security, green and digital economy, financial services and humanitarian sphere.

The results show a general content and satisfaction among the participants. Federica Nicolini, an Italian student participating in the forum in the group of “Institutional trust in the field of security” expressed his satisfaction about the foresight session, considering it enlightening thanks to the possibility to confront with other students and young experts about important topics shaping today and tomorrow’s world. Kim Min Gul, from South Korea and member of the team “economy of trust in financial services”, expressed his happiness for the multicultural environment created, with people coming from Spain to Japan, hoping for the possibility to replicate such an event.

In the end of the short competition for the best project, the winning team was “Captain Eurasia”, dealing with green economy, awarded for the quality of the project and the seriousness of the work. The team captain, Domenico Nisticò, expressed his satisfaction about the opportunity to participate in the foresight session “The Saint Petersburg Youth International Economic Forum allowed me to confront myself with different perspectives, approaches, and new ideas. I had the opportunity and the privilege to conceive a project through the contribution of diverse people from different parts of the globe. As a consequence, the result reflected the multicultural nature of the team itself. Despite the different origin of the team members, we showed a shared, common and solid approach towards the matter of green economy, which needs to be addressed seriously and committedly. Green economy is not only a concept, but a deeper approach involving responsibility and proper awareness on the part of all states, therefore encompassing all spheres of life.”

The winning project focused on the concept of sustainability, reliability and responsibility in green economy. The team proposed a deeper focus of education to enhance green responsibility, and the creation of an Eurasian digital common currency to convert the unused energy into a digital currency to improve its use. Furthermore, they proposed several initiatives that could be enhanced by governments to increase the sensibility to the matter and the efficiency of policies in green economy, from the increase of investments in the field with blockchain technology and the creation of government’s energy databases.

The moderator and chairman of the jury was Alexander Ageev, Professor and general director of the Institute for Economic Strategies of the Russian Academy of Sciences and of the International Research Institute of Problem Management, who promoted and organized this unprecedented event.

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