This week, the International Monetary Fund confirmed a decline in US economic activity, which will inevitably lead to a slowdown in the entire economy. Influential Business Insider gives an even harsher assessment. He quotes experts who predict not even a recession, but a full-fledged recession. If this assessment is confirmed, then Europe, whose economy now largely depends on the United States, will be the first to face problems. At the same time, it seems that in the event of a crisis, we will for the first time see a situation where it is mainly the “golden billion” who will suffer. The consequences for other states will be much milder, because they are being built into a new architecture, where sovereignty becomes the key and decisive factor. And in this sense, the best example is the St. Petersburg International Economic Forum. It, of course, must be assessed from the point of view of business activity, and this year it turned out to be a record one. Participants from 139 countries. 3350 Russian and foreign companies from 90 countries. The total amount of concluded contracts is almost 6.5 trillion rubles. And these are just the numbers that are not a trade secret. Details – in the correspondent’s material “Izvestia” Maxima Prikhody for the “Final program with Peter Marchenko”.
SPIEF united countries and continents
Agreements for astronomical sums were signed here about once a minute. You can’t take your eyes off the bright stands. In the neighboring rooms they talked about macroeconomics and international relations, biotechnologies and creative industries. The St. Petersburg economic once again united countries and continents. The passage connecting three giant pavilions is the main street of the expoforum. Politicians and businessmen from almost one hundred and fifty countries rush from one session to another. Traffic like rush hour in the center of a metropolis
For some, a visit to St. Petersburg is an established tradition. Representatives of India and China are looking for partners across the entire spectrum of mutual interests from energy to agriculture.
“Soybeans, corn, and so on. Well, of course, there is a lot of interest in meat – how much, when it will be. Now crabs, honey, candy, and so on, are supplied a lot from Russia to China.”says Zhou Liqun, Chairman of the Union of Chinese Entrepreneurs of Russia.
Middle Eastern monarchies are studying growth areas of large Russian businesses.
“Together with Russia, the United Arab Emirates has been working for almost three years to gather private businesses in various sectors: real estate, manufacturing, logistics, services,” – said the Chairman of the Sharjah Chamber of Commerce and Industry Abdullah Sultan Al Owais.
Latin America is interested in the traditions of education and delivery of our goods.
“We also signed agreements on the export of vodka from Russia to Argentina, which is very interesting, because there was no Russian vodka in Argentina, but there was vodka from Sweden, from France”said Pablo Cousinho, Chairman of the Argentina-Russia Entrepreneurs Council.
You will have to look for suppliers from here. Unfriendly countries have been ignoring the forum for the last 3 years. At the official level. Unofficially, they are all here.
“I would encourage more Americans to come here and think about starting their own business here in Russia.”said a member of the American delegation, entrepreneur Brand Slabon.
And the Italians echo: if you trade not with Russia, then with whom?
“There is no other way out. That is, you know, or we will sell our goods to Mars,” – says the President of the Association of Italian Entrepreneurs Vittorio Torrembini.
A look into the future
Zhenya is just one of half a dozen robots on this site. Traditionally, SPIEF is a showcase of the country’s economic and technological achievements. From high-tech solutions in the design of regional stands to breakthrough bionic technologies originating from Russia. But another look into the future. On the sidelines there is only talk about transforming the tax system.
“We are ready. No (there will be no rollback. – Approx. REN TV)”, – Daniil Egorov, head of the Federal Tax Service, answered the question.
Progressive scale and new business opportunities. The main thing is a clear understanding of the sources of financing for the country’s development.
“As much as we collect from this tax system, we will give back. There are no, you know, proposals here to save some in a box or somewhere else,” – noted the Minister of Finance of the Russian Federation Anton Siluanov.
The head of the Ministry of Economic Development Maxim Reshetnikov spoke about the risks and advantages of the Russian economic system in the studio “Izvestia”which has been working non-stop all these days.
“The regional economies themselves will be an instrument for the growth of the entire Russian economy. But this is what we need to do so that the subjects actively move, <...> to economic zones, special investment contracts. There are quite a lot of tools” – said Reshetnikov.
Agreements to support the Russian economy
And an indicator of business processes is the number of concluded agreements and signed contracts. This year there are 982 of them. A series of important signings at the stand of Joint Stock Bank “RUSSIA”. The agreements will simplify gas payments and business financial transactions, and will help regions develop key enterprises and infrastructure.
“The first thing that we are particularly interested in now is the organization of transport work for passenger transportation. The bank has developed products that allow us, in fact, to quickly develop a scheme and find suppliers, and, accordingly, develop financial models for the operation of the transport system“, said the Governor of the Voronezh region Alexander Gusev.
Another agreement between AB “ROSSIYA” and AvtoVAZ will help attract financing for new projects.
“Bank RUSSIA considers one of its most important tasks to be supporting the domestic economy and, first of all, the sectors of the economy that are required for import substitution. The production of passenger cars is one of the industries where the issue and problem with domestic passenger cars is most acute,” – said the Chairman of the Board of Directors of Bank Rossiya, Mikhail Klishin.
The main car premiere of the forum is Lada Iskra. The most important thing in this model is that all components were developed by AvtoVAZ engineers in the shortest possible time under sanctions, practically from scratch, and the level of localization of spare parts production is almost one hundred percent. This is a new domestic people’s car
Transport is the circulatory system of the economy. Therefore, the focus is on trains, for example, those that can accelerate along high-speed highways and up to 400 km/h. Commercial shipping solutions, including nuclear-powered icebreakers from Rosatom and infrastructure projects.
SPIEF 2024 in numbers is 21,300 participants from 139 countries. The total amount of signed agreements exceeds 6.4 trillion rubles, but the main result of the forum is the synergy that participants gain when they find each other here.
Source: Ren
John Holton is a seasoned author and journalist, known for his expertise in economics. He currently works as a writer at 24 news breaker, where he provides readers with in-depth analysis and commentary on the latest economic developments. With a background in finance and a talent for explaining complex economic concepts in a clear and accessible way, John’s writing is a must-read for anyone interested in staying informed about the economy.