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Government and Business Representatives to Discuss New Design of Global Governance Architecture

27 May 2021
Представители власти и бизнеса обсудят новый дизайн архитектуры глобального управления

The expert discussion ‘Reset or Overload? Rethinking Multilateralism among the Ruins of Globalization: A Business Perspective’ will be held as part of the business programme of the St. Petersburg International Economic Forum. The session is part of the thematic track ‘Joining Forces to Advance Development’ and is being organized with the support of VTB Bank.

The expert discussion will be attended by VTB Bank President and Chairman of the Management Board Andrey Kostin, World Economic Forum President Borge Brende, Founder of RUSAL, GAZ Group, and Volnoe Delo Foundation Oleg Deripaska, Chairman of the Business Twenty and Vice President and CEO of Marcegaglia Steel SpA Emma Marcegaglia, Russian Deputy Minister of Foreign Affairs Alexander Pankin, and President of the Conoscere Eurasia Association and Chairman of the Board of Directors of Banca Intesa Antonio Fallico. The session will be moderated by Journalist, Author, and NTV Weekly Review Host Irada Zeinalova.

The COVID-19 pandemic has highlighted the fragility of the world order and deglobalization trend that has prevailed for the past 30 years. Contrary to expectations, it demonstrated that under the current model of global governance, differences that have accumulated over the years between various nations are becoming increasingly hard to overcome, even in times of global crisis.

«In the modern world, business and politics are closely intertwined. Global political decisions often have a major bearing on the business sector, which directly affects the activities and prospects of companies’ operations. The business community is interested in strengthening structures for multilateral cooperation. Political uncertainty and even possible disagreements should not be an obstacle to joint progress on such important business issues on the global agenda as bolstering financial stability and establishing universal regulatory standards on the environment and climate, digital technologies, and cybersecurity. It is crucial that we ensure effective international cooperation on the recovery of the world economy after the global lockdown. The sustainable development goals can only be achieved by combining efforts both at the national and global levels,» Kostin said.

The session participants will discuss whether the existing architectural model of global governance can be adapted to modern challenges, what are the main reasons we have fallen behind in solving urgent problems, and the role of business in making globally significant decisions.

The participation of prominent representatives of the government and business community as well as reputable international business associations in the session underscores the broad interest in this issue and its relevance and also provides an opportunity for a balanced and meaningful discussion.

Details about preparations for SPIEF 2021 can be found on the official website and on the Roscongress Foundation’s telegram channel and Instagram SPIEF-2021

Official website of the Roscongress Foundation’s photo bank