Trade and Connectivity in a Changing Global Landscape: Perspectives from Global Majority Countries
Trade and Connectivity in a Changing Global Landscape: Perspectives from Global Majority Countries
On September 5, 2025, an expert session titled “The Future of the World. A New Platform for Global Growth” was held on the sidelines of the Eastern Economic Forum.
The discussion brought together speakers and experts from India, China, Bangladesh, Russia, Kazakhstan, and Indonesia, alongside representatives from academia and international organizations. The session was moderated by Maxim Oreshkin, Deputy Chief of Staff of the Presidential Executive Office.
Key topics included reforming global trade rules, developing logistics corridors and digital solutions, building alternative payment infrastructure, and creating new investment mechanisms.
Opening the discussion, Gulshan Sachdeva (India, Jawaharlal Nehru University) noted that the Global Majority countries have already emerged as major centers of economic growth and seek more equal participation in the global economy. She added that the use of currencies and institutions as tools of pressure accelerates the search for alternative solutions.
Jian Lian (China, Beijing Hengce Investment Co.) highlighted the role of digital connectivity in trade and infrastructure, emphasizing how modern solutions can strengthen economic ties across the Global South.
Rupa Chanda, Director of the Trade, Investment, and Innovation Division at ESCAP, supported this point, calling for accelerated cross-border digitalization of trade through harmonized rules, mutual recognition of standards, and platform compatibility.
Mustafizur Rahman (Bangladesh, Center for Policy Dialogue) advocated for clear and fair global trade rules and stressed the importance of local-currency settlement mechanisms to reduce costs for the Global Majority countries.
Victoria Panova, Vice Rector of HSE University and Head of the BRICS Expert Council, highlighted the importance of cooperation between expert communities in implementing economic initiatives.
When talking about logistics, Pyotr Ivanov, Head of the FESCO transport group, noted that fragmentation in the global economy increases supply chain risks, making digital tools—cargo tracking, analytics, and platform integration—especially critical for business. Alexey Bezborodov, CEO of InfraNews, emphasized the ongoing transformation of global logistics, pointing out capital shortages and proposing new BRICS transit corridors as a promising direction.
International payment systems remained a key discussion topic. Rakhim Oshakbayev, Chief Economist at the TALAP Center for Applied Research (Kazakhstan), stressed that sustainable payment systems are the foundation of financial sovereignty. Scaling national currency settlements requires institutional solutions and compatible payment infrastructure.
Teguh Yudo Wicaksono (Indonesia, Mandiri Institute) shared Asia’s experience: after the 1998 crisis, countries across the region diversified their payment systems by expanding the use of national currencies and developing QR-based payment infrastructure.
Concluding the discussion, Ilya Ivaninsky, Partner-expert at Yakov and Partners, highlighted the “investment gap”: despite the growing role of the Global Majority countries, their interests remain underrepresented in the global financial architecture. He suggested that a new investment platform could reduce capital access barriers by combining public participation with private funding.