The West is aiming at the South

The number and value of investment agreements concluded is far from the only result of the Sochi 2009 Forum. Alongside a wide display of investment projects by Russian regions and discussion of global economic problems at the round tables, an enormous amount of work was carried out at the Forum whose effect is intended for the long term.

Over three September days dozens of meetings between heads of the Administration of Krasnodar Region and government representatives and foreign businessmen were held in the future Olympic host city. These contacts should lay the foundation for long term cooperation between our region and overseas partners, both existing and those who have just expressed their interest in Krasnodar Region.

On the instructions of the Head of the Kuban, First Vice Governor Dzhambulat Khatuov held negotiations with members of the official delegations from France, Italy, Finland, Poland, Hungary, Belarus and Armenia. On the first day of the Forum Dzhambulat Khatuov met with the Extraordinary and Plenipotentiary Ambassador of the USA in Russia, John Beyrle, and with representatives of leading American companies. Participants in the meeting were unanimous in their opinion that cooperation needs to be developed. The American businessmen are ready to offer their services and investment in a variety of sectors from energy and food production to development of medicine and security systems. President of the American Chamber of Commerce Andrew Somers confirmed the great interest in joint work with Kuban colleagues.

Promising areas for cooperation were easy to find at each meeting: with the Hungarians production of medicines and organization of assembly production of buses were discussed; with the French and Italians it was projects in the agricultural sector and processing; and the Armenian delegation spoke of plans in the construction sector and development of our longstanding cultural contacts.

Communication between heads of the Region and overseas colleagues was often not organized into official negotiations. Vice Premier of Belarus Viktor Burya and Dzhambulat Khatuov examined the Krasnodar Region display of investment proposals. In the Kuban pavilion he agreed that concrete decisions in activating cooperation with our region should be put off. The investment attractiveness of the Kuban even during the conditions of the crisis is so great that partner places in the most interesting projects could be occupied by others very soon. The intense schedule of business meetings by Kuban representatives at the Forum further confirmed this.