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City news, 05.06.2007 15:14

St. Petersburg economic forum to gather 3,000 participants

Alexei_Kudrin The annual St. Petersburg international economic forum scheduled for June 8-10 will gather 3,000 participants, three times more than last year, Russia's finance minister said.

Alexei Kudrin said another 6,000 participants would arrive in Russia's second city as delegates accompanying senior politicians, officials and top managers from leading Russian and foreign companies.

"The prestige of the forum is growing, as this year it brings together presidents and premiers from ex-Soviet and other countries," said Kudrin, adding he would also deliver a report at the event focusing on economic diversification.

The forum budget is estimated at $15 million, with $2 million allocated from the federal budget and the rest covered by more than 25 sponsors.

The forum was first organized in 1997 following instructions from late President Boris Yeltsin. In 1998, it became an annual event, which revised Russia's economic performance and analyzed its business relations with foreign partners.

This year's forum is particularly significant, considering the growing integration of Russian business into the global economy, and recent successful initial public offerings (IPO) of Rosneft crude producer, Vneshtorgbank (VTB), restaurant holding Rosinter, and Sberbank's share sale.

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