Eastern Economic Forum

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Overview:

The Union Minister of Ports, Shipping & Waterways will attend the Eastern Economic Forum which is being held at the Russian port city of Vladivostok.

About Eastern Economic Forum

  • It was established in 2015 to support the economic development of Russia’s Far East and to expand international cooperation in the Asia-Pacific region.
  • It is a key international platform for establishing and strengthening ties within the Russian and global investment communities.
  • For comprehensive expert evaluation of the economic potential of the Russian Far East, the investment opportunities it offers, and business conditions within advanced special economic zones.

 

Key facts about the Russia Far East

  • It is the easternmost part of Russia.
  • The macro-region borders two oceans, the Pacific and the Arctic, and five countries (China, Japan, Mongolia, the United States and the DPRK).
  • The Far Eastern region spreads over four time zones and various climate zones: from northern deserts to subtropics.
  • It is rich in natural resources like diamonds, borax etc.
  • About 1/3 of all coal reserves and hydro-engineering resources of the country are here.

 


Q1) What are Hydro-engineering resources?

These refer to the various engineering and technological resources used in the management and development of water-related infrastructure and projects. These resources play a crucial role in harnessing, managing, and conserving water resources for various purposes, including water supply and irrigation etc.

Source: Shri Sarbananda Sonowal leaves for Russia to represent India at the Eastern Economic Forum, 2023, to be held in Vladivostok.