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Letter from AEB CEO, Dr. Frank Schauff
Dear Readers,
In his keynote address at the St Petersburg International Economic Forum, President Dmitry Medvedev talked about the recent global economic crisis, its impact on both the developed and developing countries, laying emphasis on the subsequent, unavoidable need for economic, financial, technological and social reform. He then talked about Russia, the opportunities currently available and prospects for the future, underlining the fact that modernisation that focuses on steering away from a raw material dependent economy was, is and will remain a priority. Many other issues were discussed at the Forum - at the round tables and business sessions held. The presidential economic aide Arkady Dvorkovich said that at the International Economic Forum in St. Petersburg over 50 investment deals whose total value will top 15 billion euros, were signed. Present at the Forum were the French President Nicolas Sarkozy and several Ministers of the French government. Both President Medvedev and President Sarkozy participated in the plenary session of the forum, and later, attended a roundtable to discuss joint innovation and investment projects. The AEB is proud to have been an active participant in this very successful Forum and looks forward to similar events, which aim to promote a fruitful cooperation between the Russian Federation and the EU.
I would like to draw your attention to the upcoming “European Business Forum – Successful Together”. Jointly organised by the AEB and the North-West Development and Investment Promotion Agency this will be the first ever forum of this kind; it will provide business leaders from the European Union and Russia not only with an opportunity to address practical questions the business community faces today, but elaborate on joint proposals and recommendations on the development of business cooperation between the EU member states and Russia. Within the framework of the Forum, discussions will focus on questions related to conducting business, developing a successful cooperation and establishing new business contacts within the Russian Federation and the European Union. Detailed information on this event can be found on our website: www.aebrus.ru.
In all, this is so far a busy summer. In the month of June alone a series of developments have occurred on the Russian and international business market, as well as in politics. In an effort to reduce the unemployment level in Russia Prime Minister Vladimir Putin ordered federal agencies to simplify the rules for internal migration in a move that could help laid-off Russians to land jobs elsewhere in the country. Experts point out that Russia’s economy expanded in May, 2010 at the fastest pace since November, 2008, as companies continued hiring and domestic demand accelerated. According to VTB Capital, Russia’s GDP rose an annual 2 percent, recording a third month of gains, after a 1.2 percent growth in April. The Russian government estimates that the GDP may expand 4 percent this year and 3.4 percent in 2011.
We pay also would like to pay tribute to a great man, Mr. Volker Undorf, who was Chairman of the AEB Executive Board from 2003 to 2004. Mr. Undorf passed away on the 22nd of May, 2010 at the age of 67. The AEB remains grateful to Mr. Undorf for his invaluable contributions to the Association and our heartfelt sympathy goes out to his family, friends and colleagues.
On a final note, permit me to wish you a successful month ahead!
Dr. Frank Schauff
Chief Executive Officer
The Association of European Businesses
in the Russian Federation
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