© Sputnik/ Mikhail Voskresenskiy
President Putin has shared his vision on Russia's role on the global arena.
The world is undergoing a major transformation that affects all fields of life, he said.
"The St. Petersburg forum traditionally serves as a platform for the discussion of strategic issues and challenges. Such a talk is even more important today, when the world is undergoing a major transformation, when deep changes affect almost all areas of life," Putin said addressing the St. Petersburg International Economic Forum.
The Russian leader noted that the lack of economic growth after the 2009 crisis is at the core of geopolitical tensions.
Structural problems in global economy hamper growth resumption, he acknowledged.
"After the 2008-2009 crisis, it was possible to partly balance the finances, to limit but not overcome the problem of debt growth, to make cash flows more transparent and manageable. However, structural problems, which accumulated in the global economy, remain. It is still hard to succeed in restarting the growth," the president said.
By 2025, he added, there will be a single energy market and Russia will play a vital role in it.
Vladimir Putin also noted that creation of barriers to stop technologies from being transferred to other parts of the world may lead to new problems.
On the Role of the Eurasian Economic Union
The Eurasian Economic Union might become a center of further economic development.
"We are creating a Greater Eurasian Partnership, including existing partners and new ones such as China, Pakistan, India as well as other. We are strengthening intellectual property rights and will then be lowering customs tariffs. The EU is our key economic neighbor," the president said.
European business wants and is ready to cooperate with Russia, the president said. Politicians should understand this and resume the level of cooperation.
On Anti-Russian Sanctions
"Regarding the sanctions, all Russia's actions are reciprocal, we do not hold a grudge, but it is "not a one way road," the Russian leader said.
Russia solved its worst economic problems and see growth in the future, the president said. The problem of capital outflow has been tamed, inflation of 5% is achievable in the medium term.
"We must move away from hydro-carbon dependency," Vladimir Putin also noted.
On Labor Market and Labor Efficiency
Labor efficiency growth of 5% per year must be achieved across a range of industries, the Russian leader said.
Labor market flexibility must be increased, through new jobs in SMEs. SMEs growing rapidly in Russia, especially in service industry.
The Russian Export Center was created by government to support exports, but more can be done across a number of business areas such as certification and easier access to financing.
On Improving Economic, Business and Investment Conditions in Russia
The president also called for more transparency in Russian judicial system.
Law enforcement agencies will be looking closely at improving economic, business, investment conditions, he promised.
"We are working on new technologies for new markets. The government should lift bureaucracy which interferes with this work," the president said.
On Education
The Russian leader also noted that education is the most important thing Russia should focus on. Russia leads the world in the number of engineering students.
With regards to the future business, the president said that special new structures to manage investment and business will be created, headed by the President and the Prime Minister.
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