ST. PETERSBURG, May 24. /TASS/. Russian communications services provider Rostelecom and Nokia signed a memorandum on the establishment of a joint venture to develop solutions for various markets of innovative technologies. The memorandum was signed on the sidelines of the St. Petersburg International Economic Forum (SPIEF-2018).

"The joint venture's main goal is to create a portfolio of Russian technology solutions combining the developments of domestic technological start-ups and Nokia solutions. The joint venture is to become the basis for the formation of a Russian provider of advanced network technologies and cloud solutions, "Rostelecom said.

Vice President of Nokia in the Eastern Europe Demetrio Russo stressed that the company is ready to provide Rostelecom with innovations and experience to form an economically efficient portfolio of infrastructure solutions and business models.

About forum

SPIEF-2018 runs on May 24-26. The forum’s events are held under the motto: "Creating the Economy of Trust." TASS news agency is acting as an information partner and the official photo hosting agency of SPIEF. TASS is also the operator of the zone of SPIEF’s presentations with the support of EY consulting company and the Advisory Council on Foreign Investments in Russia.