A socially oriented non-financial development institution and a major organizer of international conventions, congress, exhibitions, business, social and sporting, public, and cultural events.

The Roscongress Foundation is a socially oriented non-financial development institution and a major organizer of international conventions; exhibitions; and business, public, sporting, and cultural events. It was established in pursuance of a decision by the President of the Russian Federation.

The Foundation was established in 2007 with the aim of facilitating the development of Russia’s economic potential, promoting its national interests, and strengthening the country’s image. One of the roles of the Foundation is to comprehensively evaluate, analyse, and cover issues on the Russian and global economic agendas. It also offers administrative services, provides promotional support for business projects and attracting investment, and helps foster social entrepreneurship and charitable initiatives.

Each year, the Foundation’s events draw participants from 208 countries and territories, with more than 15,000 media representatives working on-site at Roscongress’ various venues. The Foundation benefits from analytical and professional expertise provided by 5000 people working in Russia and abroad. In addition, it works in close cooperation with 159 economic partners; industrialists’ and entrepreneurs’ unions; and financial, trade, and business associations from 75 countries worldwide.

The Roscongress Foundation has Telegram channels in Russian (t.me/Roscongress), English (t.me/RoscongressDirect), and Spanish (t.me/RoscongressEsp). Official website and Information and Analytical System of the Roscongress Foundation: roscongress.org.

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Reset or Overload? Rethinking Multilateralism among the Ruins of Globalization: A Business Perspective
4 June 2021
12:00—13:15
KEY CONCLUSIONS
The world has become fragmented

We are currently living in a much more fragmented world than we did two years ago. The world is severely paralyzed. […] We still haven’t been able to find a single solution to a rather vulnerable situation. This also applies to the pandemic and many other issues — Borge Brende, President, World Economic Forum.

The art of diplomacy is also basically a thing of the past. It seems that we are more interconnected through videoconferencing, through the ability to communicate without physically visiting a site, but nevertheless, the art of diplomacy and the dialogue itself is increasingly split into interest groups, coalitions of interest, and then imposition occurs. And imposition is a terrible thing — Alexander Pankin, Deputy Minister of Foreign Affairs of the Russian Federation.

The situation that has developed in our country is one of stability and fairly predictable conditions. I’m certain that after all the twists and turns of this summer, foreign investments will come in the fall. This is a form of confirmation that interest is being shown in our country — Oleg Deripaska, Founder, RUSAL; Founder, Volnoye Delo Foundation .

For business, of course, predictability is very important. It’s important to understand global processes, how they progress and how they interact. We aren’t seeing this today. The level of cooperation at the global level is declining. It’s increasingly a struggle with the lack of any interaction. [...] We need open markets, open rules, fair rules of interaction, and fair rules of the game — Andrey Kostin, President and Chairman of the Management Board, VTB Bank.

Sanctions are a tool of the past

The sanctions mechanism [...] is stupid and unlawful. It’s stupid because no great nation will hang its head simply because it is being sanctioned — François Fillon, Former French Prime Minister (2007–2012) .

Sanctions are a tool of the past. […] We’ll wait for others to admit it […] We can survive the sanctions. What’s much more unpleasant is that there are no real rules in the world that would help us move forward — Oleg Deripaska, Founder, RUSAL; Founder, Volnoye Delo Foundation .

Sanctions are imperial acts of political superiority that are already dying out. These geopolitics of superiority have already led to huge losses culturally — Antonio Fallico, President, Conoscere Eurasia Association; Chairman of the Board of Directors, Banca Intesa.

ISSUES
Disconnected politics

Today we are seeing disconnected politics and the weakening of international bodies that can work out some sort of joint solutions [...] We are seeing less and less coordination and interaction between governments in maintaining some sort of order or system in terms of economic and financial regulation. […] The monetary policy will definitely be adjusted. Developing markets will be the first to suffer — Andrey Kostin, President and Chairman of the Management Board, VTB Bank.

The world is facing a dilemma of how to live in the structure of a non-unipolar world — Oleg Deripaska, Founder, RUSAL; Founder, Volnoye Delo Foundation .

On the one hand, globalization has created a level playing field for everyone. On the other hand, we will see an increase in inequality — Borge Brende, President, World Economic Forum.

Business is precisely the recipient and subject of most laws and reforms, so our voice must be heard loud and clear — Emma Marcegaglia, Chair, The Business 20 (B20); Vice Chairman, Chief Executive Officer, Marcegaglia Steel S.p.A..

SOLUTIONS
Transformation of international relations

The launch of a new system requires a serious transformation of the existing international institutions that deal with economic policy and financial policy — Andrey Kostin, President and Chairman of the Management Board, VTB Bank.

Without Russia, it would be impossible to organize a new structure of law-based international relations and the ability to fairly settle disputes. [...] On the whole, I don’t believe that it’s possible to agree on something serious without having international legislation and without ending all conflicts. [...] We need to be a fully sovereign country so that we can wake up in the morning and not look to see whether or not we have been cut off from SWIFT. [...] I think we’ll be able to surprise and help the Russian population both with the help of banks and the investments that enterprises will make after receiving additional resources — Oleg Deripaska, Founder, RUSAL; Founder, Volnoye Delo Foundation .

Activating the economic sector is precisely what we need — Ali bin Ahmed Al Kuwari, Minister of Commerce and Industry of the State of Qatar.

[We need to] develop specific policy recommendations. We are planning to do this so that the exact reforms that are required to keep trade free are adopted — Emma Marcegaglia, Chair, The Business 20 (B20); Vice Chairman, Chief Executive Officer, Marcegaglia Steel S.p.A..

The material was prepared by the Russian news agency TASS