ST. PETERSBURG, June 20. /TASS/. Trade turnover and investment dynamics in the European Union and the United States have reached record lows, Deputy Chief of Staff of the Presidential Executive Office Maxim Oreshkin told Izvestia on the sidelines of the St. Petersburg International Economic Forum (SPIEF).
"When we speak of Western countries, specifically the European Union and the United States, we are witnessing trade turnover and investment activity indicators that have already fallen to their lowest levels and continue to decline further," he said.
At the same time, Oreshkin emphasized that Western sanctions have failed to undermine the Russian economy, which has successfully adapted and established effective cooperation with countries willing to engage with Russia.
"These include China, India, all BRICS nations, the countries of the Global South, and the East. Together, these represent more than half of the global economy, which means we have many partners and robust engagement," he said. "Each year, we continue to expand these partnerships, opening new niches, launching new trade flows and investment projects. All of this is more than sufficient to ensure our country’s confident development," Oreshkin added.
About the forum
The St. Petersburg International Economic Forum (SPIEF) is taking place on June 18-21. This year, the event is held under the theme "Shared Values: The Foundation of Growth in a Multipolar World." Thematic zones such as the ‘Territory of Innovations’ and the national brand space ‘Buy Russian!’ will operate at the Forum.
The program includes the SME Forum, the Creative Industries Forum, the Day of the Future International Youth Economic Forum, the Drug Security Forum, and the Roscongress Urban Hub discussion platform. As part of the cultural program, the Petersburg Seasons festival will be held, and the SPIEF Sports Games will take place.
The Roscongress Foundation is the organizer of the St. Petersburg International Economic Forum. TASS is its information partner.