By Anthony Marcus, correspondent. Eurasia Business News, September 9, 2024. Article no.1217

This year, 7,000 people from 75 countries attended the sidelines of the IX Eastern Economic Forum (EEF) in Vladivostok, while last year it was attended by 6,300 people from 62 countries, a total of 258 agreements were signed during the event for a record amount of over 5.39 trillion rubles, said the Deputy Prime Minister and Presidential Plenipotentiary Envoy to the Far Eastern Federal District Yury Trutnev.

This annual event serves as a significant platform for fostering international cooperation and investment in the Asia-Pacific region, particularly focusing on the development of Russia’s Far East and Arctic territories.

“The forum, in fact, breaks all records. We have 7000 participants. Last year there were 6300. But it is even more important that we have 75 countries, last year there were 62 countries. <… >All major developed countries traditionally come to the Eastern Economic Forum, they understand that it is here that you can figure out where the Asia-Pacific region, a strategic region of the world, will move,” Trutnev said.

To date, 258 agreements worth a record RUB 5.4 trillion have been signed during the EEF, including the creation of a chemical complex in Komi, the involvement of scientific and engineering teams within the Russky ISTC, and the construction of a timber processing complex in the Sakhalin Region. In addition, the governments of Yakutia and the Khabarovsk Territory signed a tripartite agreement with Port Elga LLC on the construction of a section of the Pacific Railway (TZD) with a length of about 626 km.

The most important outcome of the EEF is the decisions made by Russian President Vladimir Putin during sessions on the development and promotion of tourism, the implementation of master plans, the reduction of administrative pressure, logistics, financing investment projects, and the development of science and technology. The head of state supported almost all the proposals and gave the government appropriate instructions, Trutnev said.

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The forum also approved new goals of the Ministry for the Development of the Russian Far East and the Corporation for the Development of the Far East and the Arctic to attract investment.

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The Eastern Economic Forum aims to strengthen ties within the Russian and global investment communities and is seen as a crucial venue for exploring new opportunities and partnerships in the rapidly evolving Asia-Pacific landscape.

The IX Eastern Economic Forum is being held from 3 to 6 September. Its main theme is “The Far East – 2030. Let’s join forces, creating opportunities.” On September 5, the President of Russia spoke at the plenary session. According to Putin, over the past three years, more than 1,000 agreements worth over 10.5 trillion rubles have been signed as part of the EEF.

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© Copyright 2024 – Eurasia Business News. Article no. 1217