World Economy

$5.4b Worth of Deals Signed at St Pete Forum

$5.4b Worth of Deals Signed at St Pete Forum$5.4b Worth of Deals Signed at St Pete Forum

A total of 205 agreements, memorandums and contracts have been signed in the course of the three-day summit in St. Petersburg, said Anton Kobyakov, the executive secretary of the SPIEF Organizing Committee.

The number of participants in the St. Petersburg International Economic Forum was unprecedented, about 10,000, Kobyakov, who is also an adviser to Russian President Vladimir Putin, said, summarizing the event’s results on Sunday, Sputnik reported.

He also highlighted that approximately 200 foreign businesses’ CEOs had attended the forum and all of the invited accepted the invitation extended earlier.

Russian and Greek energy ministers, Alexander Novak and Panagiotis Lafazanis respectively, signed a memorandum on the construction of the extension of the Turkish Stream gas pipeline to deliver fuel to Europe.

Moreover, Russian energy giant Gazprom announced Thursday that it intends to construct a double pipeline from Russia to Germany through the Baltic Sea with E.ON, Shell and OMV.

According to Kobyakov, the program of the forum was “unique in its scope and subjects since it encompassed more than 150 events,” such as summits, panel discussions, round-tables, briefings and televised debates.

Panel sessions of the BRICS and the Shanghai Cooperation Organization business forums, the Valdai International Discussion Club of Russian and foreign experts as well as the Business Twenty (B20) Regional Consultation Forum were among the events held during the SPIEF, he added.

The St. Petersburg International Economic Forum has been held annually since 1997 to gather high-ranking politicians, businessman and experts from around the world. This year, the forum was held on June 18-20.

  Open to World

 Putin on Friday said his country was open to the world and would cooperate with the West despite persistent tensions over the Ukraine crisis. “Russia is open to the world,” the Russian president told foreign and Russian investors at the forum.

“Our active cooperation with new centers of global growth in no case means that we intend to pay less attention to our dialogue with our traditional western partners,” he told the participants.

“I would like to focus our attention on economic issues,” Putin said with a smile, noting that a deep crisis many had predicted “had not happened. We have stabilized the situation,” he said. “We have a stable budget. Our financial and banking systems have adapted to new conditions.”