Saint-Petersburg hosts international economic forum

Saint-Petersburg will host the International Economic Forum-2011 on
June 16-18. It will hold talks on global economic growth, the creative
potential of Russia, international technological developments and
energy, RIA Novosti reports.

Several sessions will be held on financial modernization of the
Russian economy. The UBS bank (Switzerland) will support in organizing
a session on invitation of capital to the Russian economy.

Russia expects to found an investment fund worth $50 billion of
foreign investments in high-tech.

Over a thousand people confirmed plans to attend the forum, 169 of
them are heads of foreign corporations, 336 heads of Russian
companies, 53 heads of states and governments. Russian President
Dmitry Medvedev, Chinese General Secretary Hu Jintao, Spanish Prime
Minister José Luis Rodríguez Zapatero and Finnish President Tarja
Halonen are expected at the forum.

Heads of Russian companies and banks, such as Gazprom, Sberbank, VEB,
Rosneft, Rosnano, Mail.ru, Magnitogorsk Metallurgy Factory,
Severstali, Systemy, MTS, RusHydro, LUKOIL, Rusala and Svyazinvest,
will attend the meeting.

President of the European Bank for Reconstruction and Development
Thomas Mirov expects the forum to determine the future development of
Russia and the investment climate.

Renault, a company with a share in Russia's AvtoVAZ car plant, expects
to increase activities. Brazil wants to improve information exchange.

Chairman of the Committee of the Lithuanian Seym for the Economy,
Daniyus Budris, says that the forum has lots of topical issues for
international economies and business. However, he emphasised the
energy issues. Budris noted the nuclear accident in Fukushima. Budris
expressed interest in electricity transport between Lithuania and
Russia, Lithuania and the EU and Russia and the EU.

He praised Russian-Lithuanian economic ties. Lithuania exported
products worth 992 million euros to Russia (16.2% of total export) in
January-May. Russia imported products worth 2.294 billion euros (32.8%
of total import) to Lithuania.