By the 21st century it has become apparent that a new world order is in the making. It is characterised by the simultaneous appearance of multilateral cooperation, integration, protectionism and unilateralism. The recent geopolitical, economic, technological and social changes are the fundamental factors shaping our future and challenging the world on the level of nations and individuals alike. The epicentre of the on-going geopolitical transformation is undoubtedly Eurasia, the fusion of much diverse cultures, mindsets and policies.
Recognizing the importance of such changes and the magnitude of their impact on the economy, the Magyar Nemzeti Bank, the central bank of Hungary decided to increase its presence on the international platform and intensify its activities aiming to enhance the Eurasian dialogue. Within the framework of this approach a new annual forum, the Budapest Eurasia Forum was launched in 2019. The first event of the series, the Pre-Forum Session of the Budapest Eurasia Forum was organised in October 2019 in the Castle District of Budapest, and the Forum is set to take place annually from 2020 onwards.
The main purpose of the Forum is to focus on sustainable economic policy covering various aspects of geopolitical and economic developments of our time. The long-term goal is to establish an international platform, on which representatives of all spheres of economy have the opportunity to share their views and exchange experiences. The agenda of the Forum goes beyond traditional central banking topics such as monetary policy and finance, as we believe that achieving sustainable growth requires interdisciplinary dialogue covering such crucial areas as innovation, geopolitics, technology, and education.
The constant evolution of economic science has always been strongly linked to the changes of other disciplines as well. The acceleration of these changes and developments created the need of the reviewal of economic thinking, in which the central element is not only growth, but sustainability as well. The last century has given us one of the longest growth periods but rapid changes in technology, mobility and geopolitics reminded us that our future remains uncertain. There are many factors we should consider while preparing for the years ahead: the growing importance of cutting edge technologies, such as AI or robotics, ensuring social inclusion and welfare and preserving our environment and resources – just to mention of few. Despite the growing number of factors that have impact on our future, we should be able to realize that all of these factors are related to three fundamental megatrends - the growing significance of geopolitics, technological revolution and the transformation of money – that have fundamental role in determining our future. In line with this realization the Budapest Eurasia Forum intends to highlight the importance of these megatrends and incorporate them into the economic discussion.
Located in the heart of Europe, Hungary is well-positioned to serve as an intellectual hub for experts from various countries and increase its contribution to the cooperation between Europe and Asia. Furthermore, we believe that achieving long term sustainability in our economies requires joint efforts and coordinated, cross-border policies, thus the Forum series intends to bring together leaders and experts from all parts of Eurasia, enhancing people-to-people dialogue therefore strengthening transcontinental cooperation.
It is our firm belief that new ideas, new visions, and new initiatives are elemental tools for progress and development, therefore we are dedicated to pursuing forward-looking, innovative and inclusive approach in its operations. The Budapest Eurasia Forum is the flagship project of this concept and one of the most significant elements of MNB’s international presence.
The primary objective of the Forum is to benefit all participants by engaging in thought-provoking discussions and building personal relations, but also serves an even greater purpose: facilitate the achievement of our common goal of increasing economic growth in a sustainable manner.