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15 Jun, 2022 11:27

SPIEF to address opportunities in multipolar world

The four-day international event will focus on problems overshadowing the global economy
SPIEF to address opportunities in multipolar world

The 25th annual St. Petersburg International Economic Forum (SPIEF), which started on Wednesday and runs through June 18, will bring together high-ranking delegations from over 40 countries and see hundreds of new deals signed, according to Russian presidential aide Yury Ushakov.

As in previous years, the business program will focus on the Russian and global economies, social issues, and technology.

One of the sessions will address world energy supplies, the future of hydrocarbons and alternative power sources, and the role of Russia in ensuring global energy security.

A total of 1,244 Russian companies and 265 foreign firms have confirmed their participation, according to Ushakov. The official said 4,188 journalists from 30 countries have registered for SPIEF.

Russian President Vladimir Putin will address the forum on Friday, giving his assessment of the global political situation and economy. Much of his speech will be devoted to stimulating business activity and strengthening Russia's foreign trade and investment ties.

“Certainly, the case in point will be problems currently faced by the world’s economy at large, unfair competition among states, trade and financial wars, sanctions, restrictions, and so on,” Ushakov said.

“The president will share his assessment of the multipolar economic model and the opportunities and prospects it presents for the entire global market,” he added.

The presidents of Egypt and Kazakhstan will take part in a plenary session with Putin at SPIEF. The Russian leader will also meet with the presidents of Armenia and Kazakhstan.

There will be no official representatives of “unfriendly states,” meaning countries that have imposed sanctions on Moscow, at the economic event according to Ushakov, who noted that “SPIEF will comprehensively address the situation with sanctions pressure on Russia.”

Egypt has the honorary status of a guest country, meaning the forum will feature business and cultural programmes with a focus on Cairo.

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