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St Petersburg Forum to help face global economic challenges

Vladimir Putin hopes

Published : 08 Jun 2023 10:27 PM

Russian President Vladimir Putin addressed the participants, organisers, and guests of the upcoming 26th edition of the St Petersburg International Economic Forum, which will open its doors on June14, 2023.

Traditionally, the rich and substantive agenda of the St Petersburg International Economic Forum (SPIEF) covers a wide range of relevant and significant topics. Scholars and entrepreneurs, politicians and public figures will discuss the key trends and prospects of the Russian and global economy, as well as the profound systemic changes that are gaining momentum today. 

“To a large extent, these changes are driven by the process of forming a multipolar world order and the aspirations of most countries to secure both political and economic independence. In this context, the theme of this year's Forum, “Sovereign Development: the Foundation of a Just World. Let's Unite Our Efforts for the Sake of Future Generations,” is extremely important and timely,” Vladimir Putin stressed.

The president noted that the Russian business community is actively operating in today's economic realities and once again expressed his gratitude to the leaders and teams of companies and organisations that have done a lot to overcome the severe consequences of illegitimate sanctions against Russia.

“According to experts' estimates, the global economy will continue to slow down in 2023, while Russia's GDP may grow by 1-2 percent. It is crucial to make the most of the opportunities that arise and focus on achieving technological and financial sovereignty, building optimal cooperation and logistics, improving infrastructure, and reducing inequality and poverty,” the president said.

One of the priorities is to stimulate the labour market. The implementation of lean production technologies and the modernisation of enterprises will require close cooperation between the state and the business community. Of course, according to the Russian president, the system of personnel training and retraining must be adjusted and the Russian employment service must be improved.

President Vladimir Putin expressed confidence that the forum will continue to contribute to solving global economic challenges and serve as an example of constructive and fruitful dialogue, and wished all participants success and the very best.

The St Petersburg International Economic Forum stands as a pivotal hub for engaging discussions surrounding the Russian economy and global matters. Last year’s SPIEF 2022 witnessed an impressive turnout of more than 14,000 participants hailing from 130 countries.

This notable gathering fostered an environment ripe for fruitful exchanges and yielded remarkable outcomes, including the signing of approximately 695 agreements with an estimated total value of 5.6 trillion rubles. The event truly exemplified its significance on the global stage, demonstrating the unwavering commitment of diverse nations towards economic cooperation and growth.