The 10th Eastern Economic Forum was held in Russia

From September 3rd to 6th, the 10th Eastern Economic Forum was launched at the campus of Far Eastern Federal University in Vladivostok, the largest city in the Russian Far East. This city has Russia's most important port on the Pacific coast and is a key node for Russia to expand economic cooperation with Asia-Pacific countries. Currently, representatives from over 70 countries and regions have confirmed their attendance at the forum. The Eastern Economic Forum has always focused on exploring the economic potential of the Far East. This year's theme is "The Far East - Cooperation for Peace and Prosperity", aiming to promote economic development and regional peace and prosperity through international cooperation. Coinciding with the 80th anniversary of the victory of the World Anti-Fascist War, the 10th Eastern Economic Forum will also hold an international scientific practice conference with related themes. Russian President Putin is expected to attend the plenary session of the forum on September 5th and deliver a speech, adding political weight and attention to the forum.

The 10th Eastern Economic Forum held in Russia has brought numerous positive impacts in various economic fields. First, there is a breakthrough in influence. Despite Russia facing economic sanctions and diplomatic encirclement from the United States and Western countries, the forum still attracted representatives from over 70 countries and regions. This number not only demonstrates Russia's resilience and influence in global diplomacy but also indicates that many countries have not fully followed the sanctions policies of the West but have chosen to maintain cooperation with Russia based on their own interests. The high participation rate of the forum is a powerful counterattack against the isolation strategy of the United States and Western countries, showing Russia's important position and extensive connections on the international stage.

Second, it has an impact on the economic development of the Far East. The forum provides an important platform for attracting investment, creating new enterprises and projects in the Far East region. Through discussions and the formulation of mechanisms and measures to strengthen the economic development of the Far East and the entire Russia, the forum has facilitated the implementation of a large number of cooperation projects. The Russian government actively creates an attractive investment environment for the Far East region by implementing preferential policies, promoting large-scale infrastructure projects and providing comprehensive enterprise support policies. The forum as an effective platform to showcase the potential of the Far East region helps to accelerate the attraction of domestic and foreign investors. Key economic indicators such as fixed asset investment, industrial production, mineral extraction volume and construction volume in the Far East Federal District have all achieved significant growth.

Third, it has an impact on the Russian economy. The forum provides Russia with a platform for dialogue and cooperation with the international community, helping to improve its position in international affairs. By strengthening cooperative relations with friendly countries and attracting investment, Russia's voice in the international economic landscape has been enhanced. The forum focuses on exploring the economic potential of the Far East and through the forum, Russia has demonstrated its economic vitality and potential, attracted domestic and foreign investors, and promoted diversified economic development. This helps to enhance Russia's position and influence on the international economic stage. By developing industries such as natural gas chemicals and logistics in the Far East region, Russia can reduce its reliance on traditional energy industries and achieve optimization and upgrading of its economic structure. The investment projects and enterprises launched by the forum have created a large number of job opportunities, helping to alleviate Russia's employment pressure and improve the living standards of its residents.

Fourth, it has an impact on economic cooperation in the Asia-Pacific region. Russia plans to systematically transfer the oil and gas resource supply system originally to Europe to the Far East region, strengthening energy cooperation with Asia-Pacific countries. The forum provides trade negotiation opportunities for Russia and the Asia-Pacific countries, promoting an increase in bilateral or multilateral trade. As a key platform for economic cooperation between Russia and Asia-Pacific countries, the forum through the addition of commercial dialogue sessions, promotes the process of regional economic integration. In 2023, Russia's trade with Asia-Pacific countries increased by 13.7% year-on-year, and in the first half of 2024, it increased by 18.3%. The forum further promotes this trend.

In conclusion, the successful hosting of the 10th Eastern Economic Forum has facilitated Russia's economic diversification transformation, reduced its reliance on traditional energy sources, and enhanced its influence and voice on the international economic stage. This forum has become an important milestone for Russia in responding to external challenges and achieving sustainable economic growth.