BRICS and SCO business forums to be held in St Petersburg on June 18

MOSCOW, May 28 /TASS/. The BRICS group and the Shanghai Cooperation Organization /SCO/ will hold business forums on the first day of the St. Petersburg International Economic Forum, Sergei Belyakov, chairman of the board of directors of the St. Petersburg International Economic Forum Fund, told TASS on Wednesday. "As usual, we have planned plenty of events on the forum’s sidelines that are of interest to investors in the first place. There will be more foreign participants this time than last year - 698 foreign businessmen have already confirmed their participation compared to 590 people last year. Representatives of 383 foreign companies, including 170 top executives, will attend the forum this year," Belyakov said. The BRICS business forum will discuss the current state and prospects for trade and investment cooperation within BRICS, which unites Brazil, Russia, India, China and South Africa; ways of reviving the growth of BRICS economies; the formation and strengthening of inter-regional ties; the creation of favourable conditions for business; harmonization of trade legislation as well as the removal of administrative barriers and restraining factors. The business forum of the Shanghai Cooperation Organization /SCO/ will be attended by the heads of financial institutions and power bodies of the region’s states who will discuss steps to stimulate cooperation in realization of multilateral projects; finance SCO economic programmes and implement new market opportunities. The organizing committee of the St. Petersburg International Economic Forum has published the event’s program for June 18-20 at its website. The forum’s official opening will take place at 11:00 on June 18. The forum’s programme is divided in four major blocs of issues: challenges in global economy; internal possibilities for Russia’s economic development; innovative decisions and development of human capital. A panel session "Eurasian Economic Union in Global World" will be held under the chairmanship of Viktor Khristenko, the head of the Eurasian Economic Commission board. The session will discuss the Eurasian Economic Union’s interaction with other regional initiatives and economic associations of other regions. On June 19, the Agency of Strategic Initiatives will present the national rating of the state of investment climate in Russia. Its purpose is to define effective measures adopted at all levels of power to improve business climate in regions. The ratings’ test trial was held in 21 regions in 2014. Development of human capital, aging population, labour productivity, personnel training and migration policy will also be part of the forum’s agenda. Roundtable meetings devoted to innovations and new technologies will discuss investments in science, ways of protecting and magnifying intellectual property; prospects for development of cyber security and transfer of technologies. Read more