St. Petersburg forum concludes with 1,084 agreements worth more than $88 billion

St. Petersburg, June 6 (SANA) The 29th St. Petersburg International Economic Forum concluded on Saturday after four days of discussions, drawing broad international participation, including official U.S. representation for the first time in a decade, and resulting in a record number of agreements.

According to Russia Today, the forum was held under the theme “Shared Values: The Foundation of Growth in a Multipolar World” and brought together more than 24,500 participants and representatives from 142 countries.

The event included official participation from the United States for the first time in a decade, alongside representatives from several European countries, while Saudi Arabia was the guest of honor.

Anton Kobyakov, adviser to the Russian president and executive secretary of the forum’s organizing committee, said a total of 1,084 agreements were signed, worth 6.642 trillion rubles (about $88.56 billion), excluding deals covered by commercial confidentiality.

Kobyakov said the forum reflected growing international interest in the Russian market and noted the return of official US participation after a 10-year absence.

He added that dialogue between Moscow and Washington was progressing gradually and expressed hope that recent understandings reached between the two sides would be implemented.

The forum also highlighted what Kobyakov described as cautious optimism among some Western investors about the possibility of returning to the Russian market in the future.

On the sidelines of the event, Russia and Saudi Arabia signed 30 agreements and memorandums of understanding across multiple sectors aimed at expanding economic and investment cooperation between the two countries.

The St. Petersburg International Economic Forum is regarded as one of Russia’s leading platforms for promoting economic development, attracting investment and expanding international partnerships.

F.J./ABD