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Business news, 01.06.2006 12:15

Minister to focus on innovation economy at Petersburg forum

economic_forum Russia's education minister will chair a session on the innovation economy at a high-powered economic forum in the country's second city next month.

Andrei Fursenko will chair the session June 13 at the annual St. Petersburg Economic Forum, which will focus more broadly on the knowledge-based economy. Russia is looking to diversify its economy and reduce its dependence on raw materials exports, and President Vladimir Putin in his May 10 state of the nation address praised the government for steps it had already taken in this direction.

"We will speak about issues of the knowledge-based economy [and] about what economic and social decisions should be made to substantially diversify economy in Russia," Fursenko said Tuesday.

He added that an exhibition of achievements in the innovation field would be also held as part of the forum, and that leading Russian companies would present projects in sectors including energy, the environment, industry, and transportation.

The forum, being organized by the Economic Development and Trade Ministry, will run June 13-15.

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