From Industrial Cooperation to New Products: What Topics Discussed at SPIEF

June 4 is the second day of the International Economic Forum in St. Petersburg (SPIEF). The Belarusian delegation has bilateral meetings scheduled.

The activities are taking place at various venues, in different pavilions, and several thematic sections are meeting simultaneously. Each delegation has its own bilateral meetings, but the common theme is international cooperation, as it drives the emergence of new global projects, market penetration, and strengthening technological security. Today, creating a high-tech product independently is difficult; it is necessary to find partners to exchange ideas and technologies and create products that are in demand in both domestic and foreign markets.

Long-term finance and its importance for economic development are also under discussion. Banks should offer good, favorable interest rates, and this money will then be used to finance loan portfolios for enterprise development and modernization of their product lines.

Other topics include entrepreneurship, a rapidly growing economic sector that is ready to explore new areas and is actively developing globally. Each country has its own support measures and areas where joint efforts can be achieved.

Engineering personnel and their current training are also discussed. One section discusses how artificial intelligence is changing the energy landscape. Energy consumption is growing in both Russia and Belarus. It is important to implement new technologies to help distribute energy and ensure its efficient flow to businesses and households.