INTERNATIONAL ECONOMIC FORUM ENDS IN SOCHI

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SOCHI, OCTOBER 9, (RIA Novosti) - The Kuban-2004 international economic forum has ended in Sochi.

This forum was organized by the Krasnodar territorial administration on a par with the Russian Economic Development and Trade Ministry; the Russian Government also helped organize this event.

The forum involved more than 1,000 delegates, representatives of 21 national trade missions, as well as over 150 foreign companies. The Krasnodar territory unveiled more than 200 investment projects worth $6.4 billion at the forum's exhibitions.

Russia's Economic Development and Trade Minister Gherman Gref, Transportation Minister Igor Levitin, Natural Resources Minister Yuri Trutnev, as well as Dmitry Kozak, presidential plenipotentiary in the South federal district, attended the forum.

Addressing a forum session, Gherman Gref noted that the Krasnodar territory ranked among the most promising Russian regions in terms of specific investment opportunities.

There is no doubting the fact that we could utilize the relevant Kuban economic experience in other Russian regions, Mr. Gref told those present (the Kuban territory is named after the main local Kuban river).

The Krasnodar territory posts more substantial business activity than any other South federal-district region, Dmitry Kozak stressed.

For his own part, Igor Levitin noted the Krasnodar territory's special significance, telling his audience that this region boasted more than 30% of all Russian seaports.

Our sector's performance depends on that of Kuban transport companies, he said. Kuban, which, first of all, aims to improve its investment climate, has surged well ahead of many regions, Mr. Levitin went on to say.

Representatives of the Russian business community, i.e. Grigory Petrov, vice-president of Russia's commerce-and-industry chamber, and Alexander Shokhin, chairman of the Capital investment group's supervisory council, also noted the Krasnodar territory's extremely favorable investment climate. The local investment and political climate is something positive, Mr. Petrov said.

For his own part, Alexander Shokhin stressed that the business community and Russian authorities must promote regional business operations, perceiving this as an important task. The Krasnodar territory boasts a really attractive business environment, Mr. Shokhin noted.

Several exhibitions were organized within the forum's framework, as well as bilateral meetings and nearly 25 roundtable discussions.

Those taking part in conferences and roundtable discussions examined various aspects of the Krasnodar territorial economy's long-term development, as well as that of other Russian regions, ways of creating a favorable investment climate in Russian regions and interaction between authorities and businessmen.

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