Plenary session of EEF discusses expansion of logistics and development of tourism

The plenary session of the 10th Eastern Economic Forum (EEF) concluded in Vladivostok. It was attended by Russian President Vladimir Putin, Vice Chairperson of the Standing Committee of the National People's Congress Li Hongzhong, Lao Prime Minister Sonexay Siphandone and Mongolian Prime Minister Gombojav Zandanshatar.

This year's theme was "The Far East: Cooperation for Peace and Prosperity." The Russian leader called the anniversary EEF an opportunity to outline further plans for the region and instructed the government to approve a long-term development strategy for the Far Eastern Federal District (FEFD) until 2036.

"Over the past 10 years, the gross regional product of the Far East has increased more than 2.5 times, from 4 trillion roubles (US$49 billion) to 11 trillion roubles (US$135.2 billion)," Putin emphasised.

The Russian president also noted the importance of cooperation with countries in the Asia-Pacific region (APR). According to him, efforts to develop transport logistics in the Far East will have a beneficial effect on trade and economic relations with the APEC.

Speaking about cooperation with China, the head of state drew attention to the recent decision by the Chinese leadership on visa exchanges for Russians.

"This is a sign of friendship that we greatly appreciate, and it will certainly contribute to a sharp increase in mutual travel and the creation of more favourable conditions for business. [...] Of course, we will respond in kind to this gesture of friendship and do the same"

Vladimir Putin President of Russia

He said that China and Russia are working together to simplify the card payment system to make it easier for tourists. In addition, the central banks of the two countries are considering solutions to facilitate the payment system, Putin added.

In turn, Li Hongzhong said that the trial visa-free regime for Russian citizens is a sign of the deepening relations between Moscow and Beijing. He expressed China's readiness to increase cooperation with Russia and other neighbouring countries.

The deputy chairman of the Standing Committee of the NPC also stressed the importance of strengthening ties in the field of artificial intelligence.

"China's doors are open, and we are ready to cooperate with all parties. We are ready to cooperate with Russia in the field of artificial intelligence. Russian President Vladimir Putin and Chinese President Xi Jinping have reached a consensus on this issue, and I believe that the next step will be to use the Far East cooperation platform to strengthen cooperation in this area"

Li Hongzhong Vice Chairperson of the Standing Committee of the National People's Congress

Speaking at the plenary session, the Prime Minister of Laos congratulated Putin on the successful holding of the EEF and thanked him for the high level of organisation of the event. He said that the Lao government is considering the possibility of establishing sea routes to Vladivostok via China or Vietnam.

"At the moment, we have reached agreements, and cooperation with Vietnam is a very good opportunity for us. We do not have access to the sea, but we have an agreement with Vietnam that allows us to reach both China and Russia"

Sonexay Siphandone Prime Minister of Laos

Putin said that Russia is conducting substantive negotiations with Laos and Vietnam on expanding logistics capabilities. According to him, the prospects here are very favourable.

The Eastern Economic Forum has been held in Vladivostok annually since 2015. The EEF serves as a platform for attracting investment to Russia's Far East and developing cooperation with Asia-Pacific countries.

Photo: screenshots from the broadcast on kremlin.ru