Russian official: Eastern Economic Forum agreements exceed $70 billion

Moscow, Sept 3 (KUNA) -- Russian Deputy Prime Minister and Presidential Envoy to the Far East, Yuri Trutnev, said on Thursday that agreements reached at the 11th Eastern Economic Forum, held in Vladivostok in southeastern Russia, exceeded a value of six trillion rubles (approximately $70 billion).

Trutnev stated in a press briefing that representatives from 17 countries, which Moscow classifies as "unfriendly," participated in the forum, which began on September 1 and runs for four days. He emphasized that the forum serves as a key platform for boosting investments and fostering international economic cooperation in the Russian Far East.

Earlier, Trutnev announced that the forum’s plans included signing more than 350 agreements with a total value of 6.5 trillion rubles (approximately $76.5 billion), a level he described as "record-breaking" compared to previous editions.

Held this year under the theme "The Far East: Development for the People," the forum explores ways to attract investments and develop infrastructure, transport, energy, and technology, alongside strengthening economic cooperation with countries in Asia and the Pacific.

The Russian government is increasingly prioritizing the development of the Far East as an economic gateway to Asian markets, particularly as Moscow has sought in recent years to expand its trade and investment ties with regional countries.

According to the forum’s organizing committee, more than 3,000 investment projects with a total value of approximately 13.5 trillion rubles ($156 billion) are currently being implemented in the Far East. About 6 trillion rubles ($70 billion) have been invested in these projects, which have launched more than 1,000 facilities and created over 180,000 jobs.

The forum’s program includes specialized sessions on investment, logistics, infrastructure, and technology, as well as discussions with several countries, including China, India, the United Arab Emirates, Mongolia, Vietnam, and the Association of Southeast Asian Nations (ASEAN).

The forum takes place as Russia seeks to increase investments in its eastern regions and strengthen economic ties with Asian economies, as part of a broader strategy to redirect an increasing share of its trade and investments toward the East. (End) D.A.N / A.M.S