26 May / 2018

Press release on the 22th St.Petersburg International Economic Forum 2018

The 22th Saint Petersburg International Economic Forum (SPIEF) was held on May 24-26, 2018. More than 17,000 participants from 143 countries visited various events of the forum in Saint Petersburg. A total of 550 agreements worth more than 2.3 trillion rubles ($38 billion) have been signed.

The SPIEF, held annually, is a major global platform for communication between business representatives and for the discussion of crucial economic issues. The forum’s theme this year was Creating an Economy of Trust.  

The US delegation was the largest one, it included more than 550 business people. The next three largest delegations came from China, Japan and France. French President Emmanuel Macron and Japanese Prime Minister Shinzo Abe were invited as the guests of honour at this year's forum. International Monetary Fund (IMF) Managing Director Christine Lagarde and Chinese Vice President Wang Qishan also attended the event.

Russian President Vladimir Putin took part at the main event - plenary session of the SPIEF and spoke on challenges of the world economy, as well as key foreign policy issues. He stressed that the world needed "a full-scale trade peace" rather than trade wars or even temporary trade armistices. The President is convinced that experience shows the role of trust as a factor of development will grow, and Russia stands for trade freedom, economic integration, constructive partner-to-partner dialogue. He called on his partners from Europe, America, Asia, Africa and other regions to advance together towards the sustainable development goals.

Special attention was paid to the African continent due to the celebration of two important dates during the forum - Africa Day and the 55th Anniversary of the African Union.

On May 25, Russian President Vladimir Putin met Central African Republic’s President Faustin-Archange Touadera on the sidelines of the forum. The two leaders considered various ways to intensify bilateral relations, first and foremost in economic and humanitarian spheres.

On the same day, the Russia-Africa Panel Session took place. President Faustin-Archange Touadera, Minister of Foreign Affairs and Cooperation of Mozambiue Jose Pacheco, other ministers and heads of parliaments from a number of African countries, accredited ambassadors to Russia and members of African and African Union delegations participating in the SPIEF attended the session. Officials from various ministries and agencies as well as the academic and business communities represented the Russian Federation.

The session featured an in-depth discussion of the current state and prospects of trade, economic and investment cooperation between Russia and African counties. The participants noted that the interest of Russian and African businesses in establishing mutually beneficial ties and implementing joint projects both in Russia and Africa has increased. In this case, the need to improve mutual awareness of trade and investment potential and business specifics, including current legislation, was underscored.

On May 28, Foreign Minister Sergey Lavrov held talks with Minister of Foreign Affairs and Cooperation of Mozambique Jose Pacheco, who arrived in Moscow on a visit following his participation in the St Petersburg International Economic Forum.

Embassy of the Russian Federation in the Republic of Botswana