Saint Petersburg — Crossroads of Global Economic Ideas

Russia’s city of Saint Petersburg is likely to become a crossroads of global economic ideas as the International Economic Forum gets underway there on Thursday.

Among the participants in the forum is the Russian political elite headed by President Dmitry Medvedev, regional leaders, top managers from domestic and foreign companies and government officials from more than 70 countries. Some two thousand guests will be discussing new understanding of international financial institutions, prospects for the development of the banking sector and the efficiency of the government’s measures to cope with the crisis. Heads of 60 Russian companies will join the discussions.

It is not a long time ago that the Economic Forum in Saint Petersburg was viewed as part of the Davos economic summit. But now foreign experts say things have changed, and today the two forums are equal. Anatoly Aksakov, president of the Russian Association of Regional Banks, commented on the event in an interview with the VOR.

«I think the participants will focus on the measures to cope with the crisis, to solve the most pressing economic issues of today. The St. Petersburg forum is a good place for politicians, economists and businessmen to exchange views on the ongoing economic processes and make full-fledged proposals. And Russia has much to offer here. First of all, its stock market is developing quickly which is the first sign of improvement. The situation with the banks is also stable enough, expect the problem of ‘bad debts’. Actually, this one is a global problem, and Russia expects its foreign partners to share experience in this field. I hope certain recommendations will be made so that Russia could succeed in its anti-crisis policies».

What is new about this year’s economic forum in Saint Petersburg is its interactive format. Each of the participants will have an opportunity to express his or her opinion and take part in the voting. Internet users will be able to watch broadcasting of all debates held as part of the Economic Forum in Saint Petersburg, including the meeting between the Russian President Dmitry Medvedev with the representatives of the world’s leading energy companies. Mr. Medvedev will also congratulate the laureates of the Global Energy award during a traditional ceremony.

Vyacheslav Solovyov

Source:The Voice of Russia