Petersburg International Economic Forum

On June 17-19, 2010 there was held Petersburg International Economic Forum (SPIEF).

The Forum brings together the leading politicians and businessmen, who meet to identify and discuss the key challenges of Russia, emerging markets and the global community and to mobilize necessary forces to identify common goals and find solutions options. The SPIEF-2010 was attended by over 4200 people from 87 countries worldwide. 


On June 18, a briefing was held on the "Russian Fiscal Policy: Challenges and Prospects". The participants acknowledged that the accumulated during the economic boom reserves allowed Russia to finance a substantial budget deficit in 2009-2010. Representatives of the Russian Government and economists have informed about serious decisions, defining the budget priorities development, which can ensure a stable basis for budget revenues. The discussion was moderated by IET S.G. Sinelnikov-Murylev, IET Head of Research, Rector of the Russian Academy for Foreign Trade of the RF Ministry of Economic Development, Supervisor.

On the same day, a panel session "Education in Russia: Can the Russian education become globally competitive?" Education is the key element  of any strategy for economic modernization, built on the basis of innovation and knowledge-intensive industries. The higher education system in Russia, first of all, will be called upon to prepare technologists, scientists, engineers and managers, who are able to compete at the international level. The participants discussed the following issues:
1) What should do the leaders of the Russian to improve higher education system so as to achieve the competitive position at the international level? How should the Government support those efforts? 
2) How is the cooperation of state and business in education can strengthen its efforts in innovation? What are the most efficient models that can serve as an example? 
3) How can international cooperation - both among the same type of educational institutions and programs for international student exchange - can accelerate progress in certain areas of science? 


The presentation was made by V.A. Mau, the Rector of the Academy of National Economy under the RF Government. 


 On June 19, in the framework of the forum, a panel session was held "BRIC: monetary policy and reserve currencies". The record level of the U.S. public debt and the decentralization of economic power in the world contribute to the renewal of debate on the reserve currency, which would be an alternative to the dollar. However, the emergence of such alternative currency will require close collaboration in developing nations. The participants discussed the following issues:

1) Do the BRIC countries have a common position on the reserve currencies and there is no need to use a currency basket?

2) What technical and political difficulties are getting in the way of creating an alternative reserve currency?

The session was attended S.M. Drobyshevsky, IET Head of the scientific direction "Macroeconomics and Finance".

In the framework of SPIEF there was also held a business round table "Business dialogue Russia-EU. Challenges and Modernization Opportunities". According to participants, the modernization agenda in relations between Russia and the EU is able to combine the competitive advantages of the Russian and European economies and accelerate the recovery from the crisis. Herewith, the realization of new opportunities will require from businesses and government more rapid response to the problems associated with the existing trade barriers, discrimination against foreign investors,outdated Russian system of technical regulation and restrictions in freedom of people migration between Russia and the EU. The Round Table participants discussed the following issues:
1) What opportunities does the Partnership provide for economic operators’ upgrade? 
2) How quickly can the structure of Russian-European political and economic ties be updated? 
3) How does the modernized agenda affect the future investment and technological cooperation of Russia and the EU? 

The round table was attended by P.A. Kadochnikov, Pro-Rector in the Science work of the Russian External trade Academy, the IET Head of "Real Sector" Research Sector. 

P.A. Kadochnikov also participated in the panel session, "Universal electronic map of the citizen (UEM) - Are the society, government and technology ready?" and "Customs Union briefing. How will it work?"

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