SPIEF 2016 summed up

The 20th Jubilee Petersburg International Economic Forum (SPIEF), the most significant annual economic conference in the Russian Federation, has finished its work in Saint Petersburg. Since 1997, heads of state, finance ministers, the heads of Russian and foreign companies, financiers and scientists have been meeting at the forum to discuss the economic issues Russia and the markets of the developing countries are facing.

As politics and economics are linked more closely than they have ever been in the current difficult time, political issues were extensively discussed at this forum.

A sign of a return of Russian-EU relations to a ‘new normality’ was the visit to the SPIEF of the European Commission President, Jean-Claude Juncker, Russia's permanent representative to the EU, Vladimir Chizhov, said.

"The fact that Juncker is participating in SPIEF, his contact with Putin, is a step forward, a return of our relations to normality. Perhaps it will be a ‘new normality’, maybe it would be more diplomatic, will represent the real interests of the states," TASS quotes him as saying.

The diplomat noted that politics too often intervenes in the economy, to such an extent that some projects fall victim to artificial geopolitical constructions.

The subject of the relations between the Russian Federation and the EU was discussed at the Valdai club session on the sidelines of the forum. Foreign Minister Sergei Lavrov, speaking at the session, said that the selective approach of the EU to dialogue no longer works with Russia. He said that "the current crisis should help us and the European Union to understand how to live."

The guests and participants of SPIEF awaited a speech by President Vladimir Putin with great interest. The participation of the head of the state in the event was a central event. President Putin was speaking at the plenary session ‘On the verge of a new economic reality’, focusing on Russia's readiness for a joint search for mutually acceptable solutions to the current issues and challenges that the world economy is facing today, and pointed to the need for coordination and strengthening the integration process.

At the same time, he stressed that Russia strongly opposes some states interfering in the affairs of others and trying to impose their own opinions and decisions.

The Russian president stressed that Russia is ready to restore relations with the EU, pointing out that the movement should be a counter one, but not one-sided. "As recent meetings with the representatives of German and French business circles showed, European business is willing and ready to cooperate with our country. Politicians need to meet business, show wisdom, foresight and flexibility. We need to regain trust in Russian-European relations and to restore the level of interaction,’’ Putin said, recalling that Russia was not the initiator of the collapse of the relations with the EU.

The most important result of SPIEF, according to its organizers, is the fact that the forum has reaffirmed its status as a large-scale, reputable platform popular all over the world for open and direct discussions of the representatives of the official authorities, business, academic and expert circles of various countries on the topical problems of world economics and finance.

‘’The number of participants in the St. Petersburg forum growing from year to year shows that Russia has been and remains the most important center of attraction for business contacts and the business community all over the world,’’ Kobyakov said.

According to the organizing committee, this year SPIEF was attended by over 12 thousand people from 130 countries, including 30 ministers from 21 countries. The forum was attended by 1300 companies, 880 of which were represented at the level of their heads.

In 2017 the St. Petersburg International Economic Forum will be held in early June, approximately on June 2-3, Kobyakov said. "We'll probably choose the beginning of June, we are considering June 2-3. We will carry out a more detailed analysis of dates, taking into account the schedule of our president, as well as international events. In the near future we will determine the dates. As soon as the date gets to the presidential schedule, we'll let you know," he said.

In the last seven years the forum has been held in the second half of June. SPIEF was held in the first third of June only in 2007-2009.