Russia turns to the Far East
On September 10-13, Vladivostok hosted the 8th Eastern Economic Forum (EEF), attracting over 7,000 participants from the Asia-Pacific region. Russian President Vladimir Putin spoke about the changes in global economy and the emerging multipolar world order.
Russia turns to the Far East
The Economics of Geography

Russia turns to the Far East

Photo: AFP/Mikhail Metzel
Eurasia 15/09/2023 14:13

On September 10-13, Vladivostok hosted the 8th Eastern Economic Forum (EEF), attracting over 7,000 participants from the Asia-Pacific region. Russian President Vladimir Putin spoke about the changes in global economy and the emerging multipolar world order.

According to Putin, "certain countries, primarily Western ones, are destroying the system of financial, trade, and economic relations that they had put much effort into building," but "the world sees the expanding space for actual business cooperation between states that do not yield to external pressure but pursue their own national interests, with a growing number of such states in different regions of the world". 

"Essentially, we are witnessing a new emerging model of relationships and integration – and not by Western patterns, for the elite, for the chosen ‘golden billion,’ but for the entire humanity and the entire existing and developing multipolar world,"

the Russian president stressed, adding that "this model offers creative energy, openness and focus on a specific outcome as a powerful competitive advantage of the Asia-Pacific region, a key factor that determines and I am sure will determine for a long time its global leadership in economic growth".

Putin reminded that "last year Russia's trade with Asia-Pacific countries increased by 13.7 percent and added another 18.3 percent in the first six months of this year. It was up 13.7 percent for the whole last year and this year, it is up 18.3 percent just in the first six months".
Photo: AFP/Natalia Kolesnikova
Putin met with Chinese Vice Premier Zhang Guoqing Tuesday on the sidelines of the forum. He said that with the joint efforts of both Russia and China, the bilateral relationship has entered its best period in history, with smooth development in various fields such as trade and economy, the Xinhua News Agency reported. The development of the Far East has become a new growth point for Russia-China cooperation, said the Russian president.

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