14 May 2018 13:58

Artificial limitations on trade, finance, must not be allowed, imbalances in global markets must be corrected - Putin

MOSCOW. May 14 (Interfax) - The 21st-century economy will be effective provided artificial limitations on multilateral trade, finance, manufacturing, or investment are not allowed, Russian President Vladimir Putin said.

"A 21st-century economy that is effective, built on forward-thinking business models, and socially responsible, and that adheres to strict environmental standards and takes account of people's real needs is something that is in all of our interests. If we are to meet these challenges, it is important that we do not allow artificial limitations to curb multilateral trade, finance, manufacturing, or investment. We need to correct the imbalances that exist in global markets," Putin said in a greeting to participants, organizers and guests of St. Petersburg International Economic Forum 2018.

"And it is crucial that we strive towards increasing mutual trust, promoting wide-ranging integration processes, and realizing large-scale and promising projects. Russia is always open to this kind of partnership and cooperation," Putin said.

Putin said he was confident that ideas and initiatives developed during the forum would facilitate the recovery and growth of the world economy.