International Economic Forum in Russia :

Meeting place for emerging leaders of a new era

The St Petersburg International Economic Forum (SPIEF) where powerful states in the world are members, began yesterday and will be held until tomorrow in the city of St Petersburg in Russia.

St Petersburg International Economic Forum which was initiated in 1997 is held annually during June. This year, it is being held for the 15th time under the theme Emerging leadership for a New Era.

Arrangements have been made by the Russian government to hold the 2011 forum on a grand scale. A number of dignitaries including Heads of State, politicians, learned persons and prominent businessmen are participating in this forum.

In addition to the meetings held with the participation of all members, a number of events including round table conferences, exhibitions, investment promotion projects, workshops and business meetings will take place concurrently. The city of St Petersburg has been earmarked as the venue of the International Economic Forum under special circumstances.

This city built by King Peter the Great is known as the gateway to Europe. By 1918, this city had been the capital of Russia. The city of St Petersburg which faced three revolutions including the famous October Revolution was known as Petersburg in 1914 and as Leningrad in 1924. The city of St Petersburg situated by the side of river Nava facing the Baltic sea is of historical significance. This city is sought by tourists throughout the world for being located in a pleasant environment with scenic beauty.

The location of about 200 museums, including The Heritage, the largest museum in the world, has contributed to the attraction this city has for tourists. In view of its historical and cultural value, St Petersburg has been named as a World Heritage City.

Economically too, St Petersburg occupies a prominent place. This city which is second only to Moscow covers an area of 1,439 square kilometres. The annual income of this city with a population of nearly five million, exceeds $10 billion.

St Petersburg is famous for ship building, production of submarines, space craft, weapons of war and turbines. The city is also famous for gas and oil trade. St Petersburg can be treated as a financial and technical hub of Russia. All these facts had contributed to the selection of St Petersburg to host an International Economic Forum of this nature. This is the first occasion when Sri Lanka participates in this forum. This forum will provide a strong platform economically as well as politically for Sri Lanka, an emerging economy in Asia with an eight percent economic growth.