Alexander Novak takes part in the opening session of the 29th St Petersburg International Economic Forum
Alexander Novak takes part in the opening session of the 29th St Petersburg International Economic Forum
Alexander Novak takes part in the opening session of the 29th St Petersburg International Economic Forum
Alexander Novak takes part in the opening session of the 29th St Petersburg International Economic Forum
Alexander Novak takes part in the opening session of the 29th St Petersburg International Economic Forum
Alexander Novak takes part in the opening session of the 29th St Petersburg International Economic Forum
Alexander Novak takes part in the opening session of the 29th St Petersburg International Economic Forum
Alexander Novak meets with Secretary General of the Gas Exporting Countries Forum Dr Philip Mshelbila
Alexander Novak meets with Secretary General of the Gas Exporting Countries Forum Dr Philip Mshelbila
Alexander Novak meets with Secretary General of the Gas Exporting Countries Forum Dr Philip Mshelbila
Alexander Novak meets with Secretary General of the Gas Exporting Countries Forum Dr Philip Mshelbila
Alexander Novak meets with Permanent Deputy Prime Minister of the Socialist Republic of Vietnam Pham Gia Tuc
Alexander Novak meets with Permanent Deputy Prime Minister of the Socialist Republic of Vietnam Pham Gia Tuc
Alexander Novak meets with Permanent Deputy Prime Minister of the Socialist Republic of Vietnam Pham Gia Tuc
Alexander Novak meets with Permanent Deputy Prime Minister of the Socialist Republic of Vietnam Pham Gia Tuc
Alexander Novak meets with OPEC Secretary General Haitham Al Ghais
Alexander Novak meets with OPEC Secretary General Haitham Al Ghais
Alexander Novak meets with OPEC Secretary General Haitham Al Ghais
Alexander Novak meets with OPEC Secretary General Haitham Al Ghais
Alexander Novak takes part in the opening session of the 29th St Petersburg International Economic Forum
Deputy Prime Minister Alexander Novak spoke at the opening session of the 29th St. Petersburg International Economic Forum, titled Pragmatic Dialogue: The Path to a Stable Future. Other participants in the session included Permanent Deputy Prime Minister of Vietnam Pham Gia Tuc; First Vice President of Myanmar Nyo Saw; First Deputy Chairman of the Cabinet of Ministers of Kyrgyzstan Daniyar Amangeldiev, and Executive Director of the APEC Secretariat Eduardo Pedrosa.
Alexander Novak noted that pragmatic dialogue is rooted in the principles of mutual benefit and partnership, both of which are essential for promoting sustainable economic growth. He stressed that such an approach is particularly important at a time of profound global transformation. “One of the major challenges we face today is the changing structure of the global economy. The centre of global economic activity is shifting, primarily toward the Asia-Pacific region and Eurasia. The numbers clearly illustrate this trend. Thirty years ago, the G7 countries accounted for 45 percent of global GDP, while the BRICS share stood at around 22 percent. Today, BRICS countries generate approximately 40 percent of global GDP, whereas the G7 share has fallen to below 30 percent. The gap continues to widen. Those that once dominated the global economy are gradually losing their leading role, while new centres of growth are emerging. These economies are building partnerships, expanding direct trade, developing new supply chains, and creating new transport routes. This is precisely what a pragmatic approach is about,” the Deputy Prime Minister emphasised.
Pham Gia Tuc noted that global economic growth is slowing, while supply chains continue to be reshaped by geopolitical conflicts, security challenges, climate change, and demographic pressures, including population aging. “In a period of profound global transformation, dialogue and cooperation remain the most effective means of overcoming differences, building trust, and creating new drivers of growth. To ensure a stable future, cooperation should focus on three key priorities: strengthening connectivity and partnership among nations, adapting to rapid advances in science and technology, and enhancing resilience and the capacity to respond to global challenges. Achieving these goals requires closer international cooperation in the development of advanced technologies, the exchange of expertise, forecasting, and financial support,” Pham Gia Tuc said.
According to Nyo Saw, geopolitical tensions, energy security concerns, and growing protectionist measures are among the key factors contributing to current challenges in the global economy. “Economic progress must go hand in hand with environmental protection and social sustainability. Through mutual trust, transparency, and practical cooperation, we can build a stable, prosperous, and sustainable future for all,” Nyo Saw stated.
Daniyar Amangeldiev noted that the world is becoming increasingly regionalised, with large integration blocs gaining additional opportunities for growth and development. At the same time, he stressed that people remain the most valuable resource. “Our task today is not merely to maintain strong economic indicators, but to ensure high-quality economic growth, establish modern industries, increase labour productivity, advance technological development, and, of course, achieve sustainable growth in the population’s incomes,” Amangeldiev emphasised.
Eduardo Pedrosa noted that, from APEC’s perspective, there are good reasons to remain confident that international cooperation can continue to deliver tangible results. “The challenges facing the world today are not entirely new. However, growing fragmentation should not lead countries to isolation. On the contrary, it serves as yet another reminder of the importance of international cooperation and partnership. Every challenge also creates new opportunities, and cooperation must prevail over differences,” Eduardo Pedrosa said.
On the opening day of the St Petersburg International Economic Forum, Alexander Novak also held a series of bilateral meetings with foreign officials.
During a meeting with Philip Mshelbila, Secretary General of the Gas Exporting Countries Forum (GECF), the parties discussed prospects for the development of the gas industry, cooperation within the Forum, and the implementation of major investment and research projects under its auspices. They emphasised the importance of the GECF as the leading intergovernmental platform for coordinating efforts to strengthen the role of natural gas in global energy markets.
In discussions with Permanent Deputy Prime Minister of the Socialist Republic of Vietnam Pham Gia Tuc, the participants highlighted energy cooperation as one of the key pillars of the comprehensive strategic partnership between the two countries. In addition to prospects for collaboration in the fuel and energy sector, the parties also reviewed opportunities for expanding cooperation in the financial, banking, and investment fields.
During a meeting with OPEC Secretary General Haitham Al Ghais, the parties discussed issues related to global energy security, prospects for cooperation between OPEC and non-OPEC countries, and ongoing efforts to ensure long-term stability and predictability in hydrocarbon markets. They also underscored the importance of developing a new architecture of global energy security based on the availability, reliability, and uninterrupted supply of energy and energy resources.
