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Second Eastern Economic Forum: from Far East development to Asia-Pacific integration

The forum will bring together leaders of the three countries, Russia, Japan and South Korea, as well as top managers of 200 Russian and 57 foreign companies from 28 countries

VLADIVOSTOK, September 1. /TASS/. The second Eastern Economic Forum (EEF) opening on September 2 will demonstrate the efficiency of new economic mechanisms of Russia’s state policy in the Far East to some 2,500 guests and investors.

The forum will bring together leaders of the three countries, Russia, Japan and South Korea, as well as top managers of 200 Russian and 57 foreign companies from 28 countries.

The forum’s motto is "Opening up the Russian Far East" and its program includes more than 500 events. The Russian news agency TASS is the EEF general media partner.

Over 80 major investment contracts worth more than 1.3 trillion rubles (some $20 billion) were signed at the first Eastern Economic Forum was held in September 2015

Russian President Vladimir Putin said in his greetings to the forum’s guests that the EEF program "aims to give investors a better idea of our Far East’s rich potential and of the favorable conditions for investment in the regional economy." He expressed hope that the EEF "will attract great interest among our foreign partners, and that we will work together to coordinate promising projects and initiatives that will help to promote mutually beneficial cooperation in the Asia-Pacific region."

Putin will hold meetings with Japanese Prime Minister Shinzo Abe and South Korean president Park Geun-hye as part the forum. The three leaders will also address the EEF panel sessions on September 3.

According to Japan’s Chief Cabinet Secretary Yoshihide Suga, Putin and Abe will discuss a wide range of bilateral issues, including the Russian leader’s possible visit to Japan. Suga also highlighted Tokyo’s readiness for a positive dialogue with Moscow on the problem of the peace treaty.

The Japanese delegation led by Abe will include top managers of the country’s major companies, including Mitsui & Co, SoftBank Group, Iida Group, Sumitomo, Sojitz and Itochu corporations and others.

South Korean leader Park Geun-hye’s speech at the forum’s plenary session will focus on the development of Russia’s Far East and international economic ties.

The president said earlier that she wants to use this trip to boost pressure on North Korea to make Pyongyang fulfill the UN Security Council’s resolutions.

South Korean analysts regard her visit to Vladivostok as an opportunity to rediscover Russia’s Far East for the country’s businessmen. Representative of Samsung Electronics, Lotte, Kogas, Daewoo Shipbuilding & Marine Engineering and other companies will make up the South Korean delegation at the EEF.

Park Geun-hye’s visit to Vladivostok is expected to promote the signing of a free trade agreement between South Korea and the Eurasian Economic Union (EAEU), which includes Russia, Kazakhstan, Belarus, Armenia and Kyrgyzstan.

The governors of all the nine Russian Far Eastern regions will traditionally take part in the forum.

The Russian Ministry for Development of Russian Far East expects 160 investment agreements worth about 1 trillion rubles (over $15 billion) to be signed at the EEF.

The EEF cultural program includes a carnival parade, a sailing regatta, a film marathon, a charity auction to support the conservation of biodiversity in Russia and numerous concerts, performances and other events.