Highlights of YIEF Plenary Session in Ufa

The VI Yalta International Economic Forum held in Ufa as part of the International Business Week culminated in the Plenary Session titled I - We - Multipolar World. New Economic Realities.

In opening the YIEF-2024 plenary session, the guests appreciated those who care about Crimea. Sergey Aksenov, the Head of the Republic of Crimea, joined the meeting online and greeted all the participants.

"The forum is attended both by multiple Russian regions and international guests. I want to thank everyone for the lose you feel for Crimea. This very occasion of the Yalta International Economic Forum happening again means that we cannot be isolated. It means that a multipolar world is an inevitable point in history. Today, standing for Russia is equal to standing for truth and justice. This year, the forum brought us together in Ufa, the capital city of Bashkortostan, which has become our family. There is a special meaning to it. The Republic of Bashkortostan is one of the forefront regions of Russia. We are grateful to our brothers, personally to Radiy Khabirov, the Head of the Republic of Bashkortostan, for the significant help and assistance you provide to Crimea", said Mr. Aksenov.

In 2014, the Republic of Bashkortostan tool Belogorsk District of Crimea under its patronage. Since then, there have been substantial contributions to the territory in question. Bashkortostan provides assistance in building and repairing the roads, upgrading social facilities (schools, hospitals and cultural institutions), supplies agricultural machinery, equipment and technologies in order to boost the agricultural sector, supplies medical equipment and arranges personnel training for Crimean healthcare institutions. The Yalta Forum finding its venue in Ufa makes all the sense as a proof of the regions being good friends.

"The forum, which has been held annually since 2015, saw agreements worth hundreds of billions of rubles. The event's agenda also includes a lot of business arrangements, including those aimed to overcome sanctions, develop tourism, industry and other fields", summarized Mr. Aksenov. He wished the participants of the plenary session fruitful work and promised that we will meet in Yalta to celebrate our victories.

The importance of YIEF was further elaborated by the moderator - Timothy Kirby, a journalist, radio host, the author of the Чужой (Alien) program aired on Mayak Radio Station. He pointed out that the Yalta International Economic Forum is a significant date in the global business calendar.

"The forum has always shed light to the current global and Russian agenda, challenges the domestic economy is dealing with. The YIEF is a top-5 largest forums in Russia and, despite border restrictions, was attended by more than 120 countries. The Yalta International Economic Forum is essential for maintaining an economic stability on the peninsula", said Kirby.

The special bond shared by Crimea and Bashkortostan was elaborated in his welcome address by Marat Khusnullin, Deputy Prime Minister of the Russian Federation. He mentioned that Bashkortostan traditionally volunteers to be a co-organizer of the Yalta International Economic Forum.

"In 2015, about 600 people came to the first meeting, and today we see thousands of guests from Russia and 90 overseas countries. The Forum's agenda is big enough to address global geopolitical matters. I expect the forum to be as useful and effective for our country as always", - concluded the Deputy Prime Minister of the Russian Federation.

Radiy Khabirov, the Head of the Republic of Bashkortostan, made his speech business-centric. According to him, business now acts as a driving force for international relations both in Russia and Bashkortostan. As a matter of fact, he declared the massive international impact of the Yalta Forum and wished that the YMEF will once find its venue in Crimea again. However, the official said, the great forum needs a helping hand and a shoulder to lean on. And the Republic of Bashkortostan was the one for it.

"The Forum's importance in undeniable. Even when just launched, it attracted strong participants and gained momentum. This longing for integration must not wither away. In fact, this is why we are here today. It is a great pleasure for me to welcome our friends, colleagues, associates, international partners. We have a large number of guests from abroad, from friendly states we cooperate with. We do and we will and will, regardless of whatever happens on a global stage", emphasized Mr. Khabirov.

Comprehending the intense foreign economic agenda, according to Khabirov, is not enough. He sees the mission in creating an environment in which public authorities, citizens and the business community feel encouraged to cooperate and find aspects to focus on.

"We are living in troubled times indeed. It would be irresponsible to say that we overcome problems easily. Because we don't. It takes a lot to withstand these trials, and I would like to express my gratitude to business people, leaders of enterprises. We stand strong thanks to your resilience, dedication and thoughtfulness", said the leader of Bashkortostan.

Radiy Khabirov recalled the tough times when we lost multimillion-dollar agreements broken and long-standing contacts, had to change logistics chains and rearrange production cycles.

"I believe that our forum stars businessmen, leaders of enterprises. Hopefully you will find new partners here, as the tradition goes", said Mr. Khabirov to the business community.

He added that the outcomes of event will be summarized later, but it is certain that the Yalta Economic Forum and the ternational Business Week make a great contribution to the foreign economic relations both for Russia and Bashkortostan.

Replying to the American journalist Timothy Kirby, Radiy Khabirov recognized the forums as part of the extended multifaceted work happening in Bashkortostan. He noted that congresses and forums are meaningless unless they complement a profound multifaceted activity to attract investment and promote the region.

"We shouldn't take the event out of the context. This is a part of a well-designed balanced multifaceted state policy of the Republic of Bashkortostan. A lot of such events are happening. It is not for me to judge whether we are a congress capital or not. If they say so, there should be a reason. It is a common case for us", the speaker explained.

The Head of Bashkortostan added that this activity is not limited to economic forums only. Other congress events revolve around culture, science and sports. He emphasized that the forums are preceded by other efforts and can be seen as quite an effective tool for solving broad tasks.

The plenary session of the VI Yalta International Economic Forum saw Andrey Nazarov, the Acting Prime Minister of the Government of the Republic of Bashkortostan, revealing why Ufa was picked for hosting this event. In his welcoming speech addressed to the participants of the plenary session, he appreciated the close ties between these two regions of the Russian Federation.

"The forum sees one of its missions in the integration of Russian regions and promotion of their initiatives. Today the Board of Regents lists three governors - Sergey Aksenov, Mikhail Razvozhayev and, of course, Radiy Khabirov. Crimea and our republic have a special bond. We maintain a long-term and profound cooperation. Since 2018, Bashkortostan has acted a co-organizer of the Yalta Forum. It gave a momentum to the interregional relations. After all, Ufa is the country's leading congress center. Therefore, for the sake of safety, the VI Forum is held in the capital of Bashkiria", said Mr. Nazarov.

The Acting Head of the Cabinet of Ministers also provided insights into the background of the Yalta Forum. According to him, Western opponents were initially skeptical about it. However, the first event saw about 200 speakers. The participants represented 12 countries and 34 foreign companies. The agenda was dealing with Crimea being integrated into the Russian environment and the global consequences of this milestone occasion. As of today, the event is a top 3 largest Russian forums and "grew to become an effective platform for moving Crimea forward".

"Year by year, the Yalta Forumis is coming into spotlight and sparks keen interest from abroad. Unfriendly foreign countries have made repeated attempts to compromise the event and thwart it. And many of the foreign participants were unjustly persecuted in their home countries. Yet, the forum is thriving. Agreements worth billions of rubles are concluded, and marriages even. Today it unites a great number of states - China, India, Iran, Syria and many others - to form a new multipolar world", said the Acting Prime Minister of the Government of the Republic of Bashkortostan.

This idea was elaborated by Nguyen Mai Huong Consul General of the Socialist Republic of Vietnam in Ekaterinburg.

"We know that the whole world is living in an era of transformation and is becoming multipolar and multi-layered. India and China are getting stronger in the international arena, and Russia also stands tall and able of expanding its power over the globe. Russia is working hard to provoke these global changes. Over in recent years, Russia has faced a lot of challenges. Nonetheless, Russia is focused and generous enough to do its best for expanding its economic potential and playing the part in the international plan", Nguyen Mai Huong said.

According to the speaker, Russia is a great contributer to globalization, integration and building interethnic, interstate ties. The new world will be fueled by information technology, science and innovation. Such advancements facilitate rapid industrial development and sustainability in production, innovation, creativity, transportation, logistics and renewable energy sources. For many countries, including Russia, these areas have become points of growth. And all this is happening despite Western pressure from opinion leaders and decision-makers, oppression and sanctions.

"Our mission is to bring countries together into a single evolving environment. As a socialist country, we must focus on inducing a digital revolution which will originate from advancements in science and technology. After all, these phenomena are the engine of the economic development", said the Consul General of the Socialist Republic of Vietnam in Ekaterinburg.

At the end of her speech, she pointed out that the collaboration with Russian will result in a significant development of industrial technologies, artificial intelligence, semiconductors, hydrogen engines and new energy sources.

Georgiy Muradov, Deputy Chairperson of the Council of Ministers of the Republic of Crimea - Permanent Representative of the Republic of Crimea to the President of Russia, expressed his gratitude to Radiy Khabirov, Head of the Republic of Bashkortostan, and Andrey Nazarov, Acting Prime Minister of the Government of Bashkortostan, for their hospitality and support.

"Mr. Nazarov, remember when ten years ago, meeting with Sergey Aksenov, we were talking about Crimea drawing a lot of attention in the world, in terms of its development and prospects, due to the unique geography. We mentioned this interest should be satisfied. This is how the Yalta Forum was born. The forum being held in Ufa makes all the sense in the light of all the support Bashkortostan provided during the first days and months after Crimea reunited with Russia. Thank you so much for this initiative", said Muradov.

The international speakers at the YIEF-2024 plenary session focused on Russia's international ties and expressed their willingness to stand by Russia's side even through tough times when oppressed with sanctions. For example, Rajesh Bagha, Secretary General of Bharatiya Janata Party, assured that India is Russia's ally forever.

"I am very grateful for having me on such a big international economic forum. I believe that Russia has always been ahead of the world, both in diplomacy or business. India and Russia have always been friends and we want things to remain this way. Now we discover new ways for our trade relations, with the Global South in particular, so our Prime Minister Narendra Modi is also working on it. Making sure that business feels good in our countries. And that is what is important for us. India will always be willing to establish new ties.

Damas Daniel Ndumbaro, Tanzania's Minister of Culture, Arts and Sports, mentioned the increasing conflicts in the world today. He emphasized that certain groups are gaining privileges over the others, preventing sovereign nations from making independent decisions. The Tanzanian MP also drew attention to Africa coming into spotlight, unraveling its rich resources and opportunities, including Tanzania, and emphasized the significance of international collaboration.

"We have huge plans for the next year and we would like to strengthen the ties between the Republic of Bashkortostan and Tanzania. We are interested in technology, especially in information technology products", - said the Minister of Culture, Arts and Sports of Tanzania.

Daniel Damas emphasized that Africa never ceases to support Russia in difficult times.

"Troubled times indeed, but Africa stands by Russia. And always will".

Mikhail Yakunin, the Chairperson of the Board of Directors of RNCB Bank, encouraged see the positive side in hardships. He finds it wide that a Chinese character for crisis is composed of such notions as danger and opportunity. Yakunin elaborated the topic of opportunities. As an example, the top manager cited the bank, which faced all kinds of restrictions once it was launched in Crimea.

"Sanctions actually acted as a vaccine we produced antibodies to by 2022. Now we use them throughout the banking sector, sharing our experience of coping with such conditions", - Yakunin said.

The speaker referred to secondary sanctions as a rearrangement of the market. He reminded that during the Soviet period, Americans were free to commerce with Russia even under restrictions. As for the problems, Yakunin noted that they are struggling to manage payments.

"You can't stop international settlements with sanctions, because it is like a stream of water - block it in one place, it flows in another", Yakunin said.

The plenary session featured Aleksandr Demin, Chairperson of the State Duma Committee for Small and Medium Entrepreneurship, speaking about emerging nations working on their own national markets.

"For this process to happen, government and business need to join forces. Results are achieved only in partnership. Small business plays a key role in diversifying the risks in the market, and it's up for the state to provide a business-friendly environment in which entrepreneurs feel secure", - said Mr. Demin.

According to the Head of the Committee, this goal can be reached through the legislation loyal to investments. We can already see the progress: there are special investment contracts, scientific and technical centers, special economic zones and technoparks operating throughout the country. In particular, Crimea have been utilizing the special economic zone for attracting investment over the past 10 years, and Bashkortostan is popular among investor due to the Alga SEZ. The progress is obvious: Crimea ranks fifth in the investment attraction rating, while Bashkortostan is top 3.

Demin emphasized that further these tools require constant fine-tuning to be efficient. For example, a new law on investment allowances will come into force on January 1, and 15 regions are already putting it into their arsenal. Moreover, there are certain additional measures, such as federal and regional tax deductions.

In his speech, Pavol Slota, Head of the DOMOV - National Party from Slovakia, recognized the Russian growing economy.

"On the other hand, the economy of the European Union is sinking into recession. It's because of the hybrid war we are a part of. As a Slavic nation it is a feat for us to be part of the European Union. The citizens and politicians are under great pressure. It is hard to resist propaganda and media", he said.

In his opinion, if we want to change the world, we should eliminate the fear.

"I was in Donetsk near the battlefield, talked to people who have lived for 10 years with a war going on outside their homes. I saw the truth with my own eyes. I wanted all people to see the truth, that the world is multipolar", said Pavol Slota.

According to Ulrich Singer who works in the Landtag of Bavaria, Federal Republic of Germany, the multipolar world is already a reality. Sanctions need to be lifted so we can start building friendly relations.

"It's not only a huge market we lost, but, worst of all, good relations that we have been building for decades. The sanctions have brought the German economy into chaos. For example, Volkswagen is getting rid of 30,000 workers. Just a few years ago Moscow was crowded with German cars, but now China is dominating the market. This makes sense: it doesn't take much to amend a contract, buy it in another country or produce it within the country".

Ulrich Singer noted that to understand the current situation in Russia, one needs to come here, talk to people and build new relationships.

FYI:

The Yalta International Economic Forum is an international business event in the field of economy. It's been held since 2015 in Crimea. The YIEF is the fourth biggest economic forum in Russia. The first forum was held nine years ago and attended by over 600 people from 13 countries such as Russia, Italy, Slovenia, Türkiye, Hong Kong, Japan, the Czech Republic, Switzerland, Greece, Kazakhstan, Israel, India and Serbia. In the later years the event was thriving facing the relevant challenges. The YIEF 2019 was participated by over 4,500 people from around 100 countries. The event yielded in over 102 agreements totally worth 215 billion rubles and establishing 1700 jobs.

This year, the Yalta International Economic Forum will find its venue in the capital city of the Republic of Bashkortostan. Ufa plays a significant economic role in Russia thanks to its favorable layout, economic potential, cultural diversity and active engagement in local and international processes.

The Forum received off-line participants from 35 countries. The total number of participating states will exceed 90. The online forum is attended by representatives of 81 countries, including the states of Latin America and the Caribbean.

Yalta International Economic Forum is held under

the International Business Week 2024. The event is recognized by Maria Zakharova, Representative of the Ministry of Foreign Affairs of Russia, as a top-5 largest forums in Russia. This event strengthens the role of the region as a venue of business communication and cooperation. The Republic of Bashkortostan proves to be an expert ground for a meaningful dialog between the authorities and business community and strengthens its presence on the map of international business activity.

Please, feel encouraged to learn more about the business and entertainment programs of the VI Yalta International Economic Forum at the official web-page: https://yalta-forum.com