CrackitToday App

7th Eastern Economic Forum

7th Eastern Economic Forum:

Russia hosted the 7th Eastern Economic Forum (EEF) at Vladivostok.

  • The forum is a platform for entrepreneurs to expand their businesses into Russia’s Far East (RFE).
  • The EEF was established in 2015 to encourage foreign investments in the RFE.
  • The EEF displays the economic potential, suitable business conditions and investment opportunities in the region.
  • Agreements signed at the EEF increased from 217 in 2017 to 380 agreements in 2021, worth 3.6 trillion
  • The agreements focus on infrastructure, transportation projects, mineral excavations, construction, industry and agriculture.
  • China, South Korea, Japan and India are the Key Players in the region, where China is the biggest investor.
  • China who sees potential in promoting the Chinese Belt and Road Initiative (BRI) and the Polar Sea Route in the RFE.
  • China’s investments in the region account for 90% of the total investments.