04 September 2016

    Yury Trutnev, Deputy Prime Minister of the Russian Federation, Presidential Plenipotentiary Envoy to the Far Eastern Federal District, and Chairman of the Eastern Economic Forum Organizing Committee, summarised the results of the just completed Eastern Economic Forum 2016.

    The second Eastern Economic Forum has concluded in Vladivostok. Whereas last year the forum was attended by 2,000 delegates, EEF 2016 was attended by 3,500 individuals from 56 countries. A total of 201 agreements valued at more than RUB 1.63 trillion were signed at the forum.

    “The second Eastern Economic Forum showed that it was much-in-demand. We see that business has a desire to come here and this livens up the business environment. So the forum is being held in the right place at the right time. As a result, new projects and enterprises will emerge in the Far East”, Trutnev noted.

    All the presentations given at the forum by Russian and foreign businessmen indicated that the new development mechanisms for the Far East are working, he said.

    “We definitely won’t stop with the package of proposals and laws for the Far East that were presented at the forum. There is an understanding that the third Eastern Economic Forum should be different, so new development mechanisms will certainly appear next year”, the deputy prime minister said.

    Trutnev made separate note of a productive meeting he held with new Japanese Minister for the Development of Relations with the Russian Federation Yoshihide Suga that took place at the forum.

    “I liked Japan’s position because there clearly is not just a desire to cooperation, but a detailed and well thought out plan of action. The minister and I agreed to make a road map with a plan for joint actions and ready to start implementing this plan,” Trutnev said.

    “The Eastern Economic Forum is being held in order for the Far East to develop more rapidly. If you look at the growth rates, the number of new investment projects and the inflow of investment to the region, you could say that this process has begun. But there is an understanding that this is only the start of the journey. We hope that in two to three years the system will get going and became comprehensive and competitive. We understand that the region is above all being developed by people who are establishing new enterprises here. For them to keep doing this, they need to know that the Far East is developing and that it is truly better to work here,” Trutnev concluded.