Eastern Economic Forum 2023: Asia-Pacific Region Players Discuss Prospects for Economic Cooperation


Eastern Economic Forum 2023. Photo: CGTN

The 8th Eastern Economic Forum (EEF-2023) takes place from 10 to 13 September in Vladivostok.

This year the theme of the forum is "On the way to cooperation, peace and prosperity". The business program includes more than 90 events dedicated to the Russian and global agenda. More than 400 speakers will talk about changes in the world, the current state of the world economy and industry, the development of new logistics chains and the interim results of reform work in the Russian Far East.

The EEF programme also includes business dialogues with foreign partners from India, China, Laos, Mongolia and ASEAN countries.

The Youth Eastern Economic Forum will also take place. The participants of the Youth EEF will discuss the prospects of IT business development, possibilities for international youth cooperation and volunteer initiatives. The issues of patriotic education of youth, youth associations of ASEAN, BRICS and Shanghai Cooperation Organization countries will also be raised in connection with the World Youth Festival, which will be held in Russia in March 2024.

On September 11, the issue of Arctic development was discussed during the session “Trade and logistics centers in the Arctic: a new opportunity for the development of northern and Arctic territories”.

According to Maxim Dankin, Director of the Department for the Development of the Arctic Zone of the Russian Federation and Implementation of Infrastructure Projects at the Russian Ministry of Economic Development, the Arctic Zone of the Russian Federation forms a fifth of the federal budget revenues. The Arctic zone of the Russian Federation contains a large amount of mineral and raw material resources that affect the well-being of not only the Arctic Zone itself but the entire country as a whole.

The Northern Sea Route (NSR) plays a key role for the residents of the Russian Federation, but there is still a lot of work to be done in this direction, said Sergei Ivanov, Special Representative of the President of the Russian Federation on Environmental Protection, Ecology and Transport, at the session "World Transport Northern Route". He specified that a climate change monitoring system is being created, and climate polygons are being constructed.

"What is important is that global economic projects are being implemented here. The Northern Sea Route infrastructure project alone is one of the largest strategically important projects of our country," he continued.

Results of the EEF - 2022

Last year, the forum was attended by more than 7,000 participants and media representatives from 68 countries, including about 1,700 entrepreneurs from 700 companies. A record number of investment agreements, as well as memorandums and letters of intent, were signed at the forum.

In total, 296 contracts worth more than 3.2 trillion rubles were signed. Among them were agreements on infrastructure and transport projects, development of large deposits of natural resources and cooperation in the construction, industrial and agricultural sectors.

The results of last year's Eastern Economic Forum and the first days of the 2023 forum demonstrate that measures to isolate Russia politically and economically have a negative impact only for those countries that apply them. Russia's pivot to the East has only sped up the development of the Russian economy, culture and science with friendly countries.



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