June 5
By Julia O’Malley
The 26th St. Petersburg International Economic Forum (SPIEF) is set to take place on 14–17 June 2023 in Russia. As in previous years, the business programme will focus on the global economies, social issues, and technological development.
Over the last 24 years, the Forum has become a leading global platform for members of the business community to meet and discuss the key economic issues facing Russia, emerging markets, and the world as a whole.
The Forum’s main theme is ‘Sovereign development as the basis of a just world: joining forces for future generations’.
The programme currently consists of more than 140 events with more than 1,000 moderators and speakers.
The Forum theme is more relevant now than ever before at this time of drastic changes ushering in new technological paradigms and a new system of international relations. Recent years have witnessed an intensification in the crisis of trust between nations, making it all the more important to maintain a fair and constructive dialogue between business communities across the globe.
The business programme is divided into five thematic blocks dedicated to the global processes taking place in the world and leading to the establishment of a fundamentally new multipolar economic model with opportunities for fair and constructive dialogue between all those striving towards more sustainable development.
The sessions taking place as part of the ‘World Economy at a Global Turning Point’ track will consider economic changes to energy, finance, logistics, transport, culture, and technology.
Six bilateral business dialogue events have been planned to take place with foreign partners from the Arab world, Latin America, ASEAN, India, and China.
A new format of dialogue between Russian and foreign business will be introduced on 14 June, the first day of the Forum: the Day of International SME Cooperation, with a special emphasis to be placed on accessible company participation and the uniqueness of a programme that will include informal bilateral business events and presentations on the investment, technological, and industrial potential of partner countries.
Today’s unprecedented challenges only serve to increase the importance of the Forum. It serves as an example for the international community with regard to advancing initiatives capable of fostering an environment conducive to regional and global economic growth, increased investment, and developing effecting solutions to shared economic issues.
The global chain system suffered with the beginning of the Ukrainian crisis. The economic sanctions imposed on Russia are also hurting the US and other European countries, which are facing rising commodity and energy prices, food shortages and rising inflation. At the same time, the withdrawal of American and Western businesses from Russia has created unique opportunities for Asian companies that are ready to fill the vacated niche.
Under these conditions it is necessary to clearly distinguish between political and economic confrontation. Washington should not put pressure on representatives of national business and prohibit economic cooperation with Russia, as this in fact leads to serious economic losses.