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Agreements worth over $35 bn inked during economic summit: Russia
June 4, 2017, 10:10 am

Delegates at the St Petersburg International Economic Forum plenary meeting in St. Petersburg, Russia on 2 June 2017

Russia says 386 agreements for around 2 trillion rubles ($35.32 billion) were signed at a recent economic forum.

Representatives of business, international organizations and experts from more than 143 countries attended the gathering, Presidential adviser Anton Kobyakov said at a press conference on the results of the SPIEF-2017.

SPIEF is an annual Kremlin-run, high-profile gathering of business and political figures.

Indian Prime Minister Narendra Modi attended the event this year with India being the “guest country” of SPIEF-2017. Qatar announced its intention to be the guest country next year.

Modi and Putin held bilateral talks on the sidelines of SPIEF. The two leaders entered into several agreements promising more cooperation between the two countries on wide ranging issues including counter-terrorism and nuclear energy.

Russia signed an agreement with the Indian government on Thursday to build two new reactors for the Kudankulam nuclear power station in Tamil Nadu and said it would loan India $4.2 billion to help fund construction.

Meanwhile, addressing the St Petersburg International Economic Forum, President Vladimir Putin referred to Russia’s return to economic growth and pick-up in investment.  Putin also said Russia’s future lay in developing the digital economy.

“The inflow of foreign direct investment into the Russian economy amounted to $7 billion in the first quarter… I would like to note and underscore that the increase in investment is currently outpacing GDP growth, which is another sign of what I have already mentioned: our economy is entering a new phase of growth, and the foundations for its future growth are taking shape,” Putin said.

“We went up 80 positions on the famous Doing Business ranking in one go,” he added.

 

TBP and Agencies

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