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13 Sep, 2018 10:03

Eastern Economic Forum brings $42 billion in deals to Russia

Eastern Economic Forum brings $42 billion in deals to Russia

A total of 175 deals worth 2.9 trillion rubles (US$42.07 billion) were inked during the Eastern Economic Forum (EEF) in Vladivostok, according to Russian Deputy Prime Minister Yury Trutnev.

“These are not the final figures,” he said when announcing the results of the fourth annual EEF, which took place from September 11 to 13.

Trutnev, who is also the Presidential Plenipotentiary Envoy to the Far Eastern Federal District, noted the deals which were signed at previous forums, saying that in 2015 “the figure was 1.3 trillion rubles ($18.86 billion) while last year it rose to 2.5 trillion rubles ($36.27 billion).”

Among the deals agreed to was the establishment of a mining and industrial enterprise based in the Baimsky ore area in Chukotka. Asian investment GenFund will participate in Far East projects of Russian agroholding Rusagro and Nakhodka fertilizer plant.

According to the official, the important deals also include deliveries of 100 SSJ-100 aircraft to Aeroflot, and the construction of a terminal for Novatek LNG transshipment at Bechevinskaya Bay in Kamchatka.

“Within the framework of the forum 100 business events were held,” Trutnev said, noting that more than 6,000 delegates and 1,300 media representatives participated in the event.

The Eastern Economic Forum is an international forum held each year since 2015 to encourage foreign investment in the Russian Far East.

The theme of this year’s event – The Far East: Expanding the Range of Possibilities – reflects aspirations to see Russia more closely integrated into the economic network of the Asia-Pacific region.

For more stories on economy & finance visit RT's business section