The results of the VII Russia-Singapore Business Dialogue

Russia-Singapore Business Dialogue aimed to strengthen and expand the interregional cooperation between Russia and Asia-Pacific countries concluded its work on November 3, 2022.

The event was organized by the Russian-Singapore Business Council, and international trade, new challenges and opportunities were on the agenda. The event was held in a mixed format: in Kuala Lumpur (Malaysia) in person, as well as through telebridge Kuala Lumpur - Moscow (at the site of the Chamber of Commerce and Industry of the Russian Federation) - Singapore (at the site of the Foreign Promotion Center of Russian High-Tech Companies and Presentation of Investment Projects).

Nowadays we see how rapidly the potential of the Asia-Pacific region in the regional and global economy has increased in recent decades. In his opening speech Chairman of Russia-Singapore Business Council N. Volobuev noted: "Today the Asia-Pacific region is the largest global economic center ... For sixth years Russian and foreign representatives of government agencies, businesses, cultural communities gather on this platform. This means that both Russian and Asia-Pacific region countries are interested in cooperation".

The importance of developing and maintaining mutually beneficial relations not only in business, but also in the sphere of education, culture and science was emphasized by Ambassador Extraordinary and Plenipotentiary of the Russian Federation in the Republic of Singapore Nikolay Rishatovich Kudashev in his welcoming speech.

Speakers covered literally every topic and examined many potentially promising areas of cooperation: from agro-industrial goods to high-tech products. "Expansion of direct business contacts in the region, which is of strategic importance for us in the field of trade, will allow to implement practical tasks of forming engineering and production cooperation to create competitive products in local markets; optimize the costs of related production services, including logistics, financial, insurance and others," - said Sergey Pronin, the Deputy Chairman - Executive Director of Russia-Singapore Business Council.

Traditionally, new strategies of cooperation are elaborated, new vectors of development are defined, reports of eminent experts are presented and milestone agreements are concluded at the platform of the business dialogue. This year was not an exception: the VII Russia-Singapore Business Dialogue laid the foundation for further cooperation between Russian and Eastern businesses in promising and new industries.

Agreements

During the 7th Russia-Singapore business dialogue Russia-Singapore Business Council signed the following agreements: with Yaroslavl State Technical University on the support of innovative processes of the Parties, organization of research and development activities; with partner companies in Southeast Asia in the following areas: finance, insurance, engineering and industrial cooperation.

A significant event of the business event was the key decision on the regional expansion of RSBC activities: the Chairman of the Russia-Singapore Business Council signed the certificate and appointed RSBC representative in Malaysia.

Participants

Around two thousand people attended the business dialogue, which took place in Moscow, Kuala Lumpur, Singapore and many other Russian and Asian regions. The largest foreign delegations were from Singapore, Malaysia, Indonesia, and China.

The key event of the business dialogue was the business session, which was attended by high-ranking officials and heads of the diplomatic corps of several countries, including: Chairman of Russia-Singapore Business Council Nikolay Volobuev; Ambassador Extraordinary and Plenipotentiary of the Russian Federation in the Republic of Singapore Nikolay Kudashev; Ambassador Extraordinary and Plenipotentiary of the Russian Federation in Malaysia Nail Latypov; Vice President of the Chamber of Commerce and Industry of the Russian Federation Vladimir Padalko, as well as trade representatives of Russia in South-East Asia.

Relevance of the topic "Pivot to East" was also emphasized during the business discussion, which focused on the economy, trade, banking, finance, logistics, industrial cooperation, innovation in the urban environment, development of education, health and cultural education in the context of new formats of cooperation with the countries of Southeast Asia.

Russia-Singapore Youth Business Dialogue

A special place in the program of the business dialogue was taken by the Youth section. Young professionals, scientists, specialists and students of higher educational institutions gathered to discuss topical issues of human resources development, tools to support youth entrepreneurship, student intercultural communication as part of regional cooperation. 

Russia-Singapore business dialogue once again demonstrated its effectiveness. The business event was not just a place for discussions, but a platform for dialogue between entrepreneurs, understanding of the future of the country as part of the reorientation to the East. 

The speeches of distinguished guests from the Asia-Pacific countries confirmed their intentions to develop cooperation with Russia in various fields, increasing the investment climate and creating a business environment, responding to new economic challenges and opening up new opportunities.