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Vladimir Putin Highlights Participation of Italian Companies in SPIEF and EEF

26 January 2022
Президент России Владимир Путин отметил участие итальянских компаний в работе ПМЭФ и ВЭФ

Vladimir Putin held a videoconference meeting with heads of leading Italian companies. The discussion focused on trade, economic and investment cooperation between Russia and Italy and prospects for further expanding bilateral business ties. Members of the Russian Government also took part in the videoconference.

During the meeting, Russian President noted that Italian companies and representatives of Italy’s business community are regulars at the St. Petersburg International Economic Forum and Eastern Economic Forum, Russia’s key international discussion platforms. Vladimir Putin paid particular attention to the special session of the Russia—Italy Business Dialogue, a sideline event of SPIEF 2021. This year, the St. Petersburg International Economic Forum will take place on 15–18 June. Eastern Economic Forum is scheduled for 5–8 September.

Russian President noted the Russian-Italian Investment Platform for financing large capital-intensive joint projects. This platform was established in 2019 together with the Russian Direct Investment Fund. Vladimir Putin also mentioned the Foreign Investment Advisory Council under the Government of the Russian Federation. For the last 26 years, this Council has worked on improving the conditions of business enterprise.

Today, Italy is considered one of Russia’s leading economic partners. It is Russia’s third largest trade partner in the EU. Italian companies’ investments in Russia’s economy amount to about USD 5 billion, and Russian investments in Italy are estimated at about USD 3 billion.

The last time Russian President met with representatives of Italian companies was in October 2018. According to Vladimir Putin, many voiced recommendations have been taken into account in the ongoing work to create a favourable climate for growth and development of the economic environment, to improve economic regulation and the business climate, including attracting foreign investment.