Concept note

By the 21^st century, it is now apparent that an entirely new world order is emerging. It is distinguished by the concurrent evolution of multilateral cooperation, integration, and competition, with a large portion of them now occurring in the digital space. The COVID-19 pandemic and its economic repercussions have caused additional turmoil in this increasingly complicated world. Eurasia, the confluence of various cultures, mindsets, and policies, is without a doubt the epicentre of the current transformation. The emergence of new power centres on the supercontinent emphasises the significance of multilateral negotiations and ways of thinking.

Considering these changes and the extent of their influence on the economy, the Magyar Nemzeti Bank (MNB), the central bank of Hungary, wants to actively participate in the global dialogue about the new era and step up its efforts to promote Eurasian cooperation. To that goal, as a new annual conference, the Budapest Eurasia Forum was introduced. The Pre-Forum Session took place in October 2019 in the Castle District of Budapest, while the first and second Budapest Eurasia Forums took place as E-Conferences in the autumn of 2020 and 2021, due to the unprecedented circumstances created by the pandemic. In an effort to adjust to the “new normal” of the post-COVID era, the Budapest Eurasia Forum 2022 hybrid conference was hosted at the MNB headquarters last year with the participation of online and personal speakers as well. Encouraged by the success of last year’s event, we are organising the conference this year in the same format again, taking advantage of the opportunities offered by hybrid conferences.

Our comprehensive multidisciplinary agenda focusses on sustainable development while takes into account a variety of contemporary geopolitical and economic considerations. The main goal is to create an international platform where representatives of many economic and social sectors can interact and exchange ideas. Finance, economy, geopolitics, multilateral cooperation, technology, education, and culture are among the topics that are covered in addition to central banking. We firmly believe that interdisciplinary and multilateral dialogue are essential for attaining sustainable prosperity.

It is clear in hindsight that the development of economics has always been closely related to that of other disciplines. The great obstacles that have arisen since the financial crisis of 2007–2008, the euro crisis, and most recently, the COVID-19 turmoil, have necessitated a change in economic paradigm: sustainability (in terms of the environment, society, and international relations) is now just as important as growth. The rapid development of cutting-edge technologies, the pervasiveness of technology in every part of our life, assuring social inclusion and welfare, and protecting our environment and resources are just a few of the newer features of our age that fall under this mindset. The Budapest Eurasia Forum focusses on the understanding that all of these phenomena can be linked to four megatrends: the growing importance of geopolitics, the technology revolution, the transition to a greener economy, and the evolution of money and the financial system. Our goal is to include these elements in the conversation about economics.

Located in the heart of Europe, Hungary and its capital, Budapest are well positioned to serve as an intellectual hub for experts from various countries and promote cooperation between Europe and Asia. We believe that achieving long-term sustainability requires joint efforts and coordinated cross-border policies. The Forum’s main goal is to provide all participants with benefits through engaging in deep conversations and the development of personal relations, but it also serves an even greater purpose. Thus, the Forum intends to bring together leaders and experts from various countries, enhancing people-to-people dialogue.

We feel proud and honoured that the spirit of the Budapest Eurasia Forum conference series increasingly emphasised and articulated by our esteemed partners and the evolving global community of the Forum. As one of our distinguished speakers, Mr. Qiang Ni, Vice Governor of Hainan Provincial People’s Government kindly noted previously: “The Budapest Eurasia Forum has developed into an important platform of high-level professional dialogue for Eurasia to deepen cooperation and achieve fruitful outcomes.”