Eastern Economic Forum 2021

 

Relevance

• GS 2: Important International institutions, agencies and fora – their structure, mandate.

 

Context

• Our Prime Minister delivered a video-address during the plenary session of the 6th Eastern Economic Forum (EEF) held recently in Vladivostok, Russia.

 

Key points

• He applauded President Putin’s vision for the development of the Russian Far East, and reiterated India’s commitment as part of its “Act East Policy’ of being a reliable partner of Russia in this regard.
• He also stressed on the importance of greater economic and commercial engagement between the two sides in line with the ‘Special and Privileged Strategic Partnership’.

 

Eastern Economic Forum

• Eastern Economic Forum is an international forum held each year in Vladivostok, Russia, for the purpose of encouraging foreign investment in the Russian Far East.
• It was established by the decree of the President of the Russian Federation in 2015.
• The Eastern Economic Forum is an international platform aiming to foster communication and cooperation between members of the business community, political figures, experts, and journalists from Russia and the Asia-Pacific region.
• The Forum business programme includes a number of business dialogues with leading partner countries in the Asia-Pacific region, and with ASEAN, a key integration organization uniting dynamically developing nations in Southeast Asia.
• This year the EEF will host the following exhibitions
  • Exhibition of the Ministry for Development of the Russian Far East and Arctic
  • ‘Welcome to the Far East’ exhibition
  • Exhibitions of paintings by artists from the Far East.
  • EEF 2021 partner networking areas.
  • Historical industry exhibitions including photography and other media; photography exhibitions from EEF 2021 exhibitors.

 

What is Far East region?

• The Russian Far East is a region in Northeast Asia.
• It is the easternmost part of Russia, and is administered as part of the Far Eastern Federal District, which is located between Lake Baikal and the Pacific Ocean.
• It shares land borders with Mongolia, China, and North Korea to its south, as well as maritime boundaries with Japan to its southeast, and with the United States along the Bering Strait to its northeast.