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Putin: Challenges facing global economy require concerted action

The president noted that the participants and guests of the 20th St.Petersburg International Economic Forum could expect a far-reaching and comprehensive program

MOSCOW, June 16. /TASS/. Russian President Vladimir Putin has sent a message of greetings to the participants, organizers and guests of the 20th St.Petersburg International Economic Forum (SPIEF), the Kremlin press service reported on Thursday.

"Year after year, the Forum’s reputation and influence continue to grow. The meetings, roundtables, and panel discussions held at the event focus on the most pressing and topical issues of the day. For politicians, business executives, and public figures from Russia and around the world, the event offers a platform for sharing best practices and proposing groundbreaking solutions to a wide range of issues facing the economy, finance, trade, and investment," Putin noted.

He recalled that the forum is held under the motto "On the Threshold of a New Economic Reality," adding that "the relevance of this issue is obvious." "The global economy is increasingly impacted by political and social factors. The challenges facing the global community demand concerted action aimed at achieving sustainable and balanced growth," Putin said. "It is vital that we work together in our search for additional drivers of development. We must more fully make use of the industrial, scientific, technological, and innovative potential of our nations, and also the potential of international integration structures. We must react more swiftly to the shifting demands of the market and to the looming transformation of the global technological landscape."

The president added that "the participants and guests of the forum can expect a far-reaching and comprehensive program." Among the events are the business forums of G20, BRICS and the Shanghai Cooperation Organization (SCO), meetings between official delegations from Russia, Kazakhstan, Italy, and other countries as well as a special Valdai Club session and a meeting of the Russian Forum of Small and Medium-Sized Enterprises. A conference dedicated to the development of the Arctic territories will be held for the first time. The traditional Global Energy Award and Development Award ceremonies will also be held during the Forum along with a business summit of heads of the world’s biggest energy producers.