St. Petersburg International Economic Forum A Global Platform for Discussing Economic Issues. An Active and Distinguished Presence of the Oil Minister
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03/10/2017
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St. Petersburg International Economic Forum  A Global Platform for
Discussing Economic Issues.

An Active andDistinguished Presence of the Oil Minister at The
International Economic Forum.

The International Economic Forum held inthe Russian Saint Petersburg
city under the slogan ( Search for a New Balance InThe Global Economy )
for the period 1-3/6/2017 with a global participation formore than 14,000
participants representing 142 countries. The three- day forumis considered
 as a global field for business meetings and discussing the maineconomic
 issues in the world.

The SPIEF’s works started with theparticipation of Presidents of Governments
 and Ministers including Mr. VladimirPutin, the Russian President and
Mr. Jabbar Ali Hussein Al-Luiebi, the Iraqi OilMinister, in addition to the heads
of International Companies and a largenumber of Politicians and Economists
 who have Governmental and Private Companies.

The official Russianpresence was the most important and the largest during the
 current session asRussia was the organizer and the host for this forum, it is
getting benefitfrom the broad political and economic international presence.

On the sidelines of the forum, the OilMinister met Alexander Dukov, the head
 of Gazprom Neft Company; they discussedhow to develop the company’s work
 in Badra oil field, as well as the completionof gas factory in the same area.

 On the second day of the forum, the OilMinister met Mr. Dmitry Ragozin,
the Deputy of Russian Prime Minister and Putin’sAdvisor of Space and Arming
Affairs. He is one of the important politicians whomaking decisions in Russia.
The meeting discussed how to arise the level ofcooperation between the two
 countries concerning the industrial fields.

The Oil Minister expressed hisconfidence about the possibility of increasing
the industrial cooperationaccording to the great experience and progress
possessed by Russia in militaryand civilian industries field.

Mr. AL- Luiebi pointed out that the problem of the Russian side is that it does
 not market its products well, whichmakes the Iraqi Institutions lack the sufficient
 information about Russianindustries in the field of the developed technologies
and equipments.

The Oil Minister presented proposedsolutions through which can overcome the
problem of marketing at the Russianside, such as the participation of Russian
manufacturers in Baghdad InternationalFair
 for this year or opening commercial offices in Baghdad.
 Mr. AL- Luiebi said: “we can make a dualcooperation in agricultural and industrial
fields, we hope that the Russiancompanies participate substantially in energy field
 (exploration and extraction) , as well as the reconstruction of the infrastructure of the
 oil industries in Iraq and hope that they will be more active and powerful inIraq).

Also he added: “we have a contract with ‘Lukoil’, the Russian Company for exploration
 and it is working efficiently in Iraq”. From the other side, Mr. Ragozin praised the proposals
 of the Oil Minister, stressing that he will follow up this issue and invite thetechnical
Iraqi delegations to visit the Russian factories.

The Economic Forum included 108 activities in various fields, such as the general
session and the discussion sessions, in addition to the round table activity and
television debates.

The forum discussed itsworks in four main directions:

-The dynamics of the global economy, the current work plan of Russian economy
and modern technology. 
 

-Human factor as the basis for development, indicators for overcoming the recessionand
 the ways to enhance this dynamic.

-Evaluation ofchallenges and risks associated with inserting a new technology.