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Yalta International Economic Forum Information portal

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2 May '19

Results of the V Yalta International Economic Forum

Results of the V Yalta International Economic Forum

The V Yalta International Economic Forum has completed its work in Crimea. In 2019, the topic of one of the most prestigious business events in Russia was formulated as "World. Russia. Crimea. A new world reality". On the one hand, it logically went to the previous 4 years, and on the other — it was a common thread in all discussions of the venue. After all, Crimea has become a global symbol of the new economic policy model, free from double standards.

The President of the Russian Federation Vladimir Putin sent his greetings to the participants of the YIEF. "We wish you a successful launch of new initiatives and productive work. It is gratifying that the Forum is strengthening its authority every year, and representatives of the business community, experts from around the world consider it as a recognized platform for dialogue on the current agenda. Meetings in Yalta provide investors with the opportunity to personally assess the potential of Crimea, open to cooperation with all partners," the President's message said.

At the opening ceremony of the event the Head of the Republic of Crimea Sergey Aksyonov called the Forum as a tool that helps to overcome any emerging barriers in world politics. He stressed that foreigners who participated in the event, return home with the understanding that it is possible and even necessary to work in Russia, which means that this tool needs to be developed further. "For five years, YIEF has proved its effectiveness as an important tool of people's diplomacy, which allows to break through all political barriers. Friends of the Crimea in many countries help to break propaganda myths and convey to the international community true information about the Crimean spring, the historic referendum of 2014, the current situation in the region," he said.

The official representative of the Russian foreign Ministry Mariya Zakharova claimed on the "counterproductive efforts to build sanctions barriers" against the Crimea by a number of countries. "A clear expression of the progressive development of international foreign economic relations was the annual YIEF. The representative list of the participants demonstrates the futility of attempts to politicize international economic relations. Isolation of Crimea is a myth," she said.

The same idea was expressed in the message of the Minister of foreign Affairs of the Russian Federation Sergey Lavrov, which he sent to the participants of the event. "Numerous foreign guests testify to the interest of the countries to the Crimea. We intend to encourage more such exchanges. I am convinced that the results of the event will help to establish new useful contacts and increase the investment attractiveness of the Crimea," Sergey Lavrov said in his message.


Every year YIEF becomes more and more representative in the list of the participants. In 2019, 4564 participants participated in the Forum, which is one and a half times more than a year ago. YIEF was visited by 807 foreign delegates from 89 countries, including Italy, France, Great Britain, Belgium, Sweden, Poland, Czech Republic, Latvia, USA, Turkey, Iraq, Iran, China, India, Nicaragua, Ukraine and others. This year the Forum was attended by delegations of the Republic of Abkhazia and the Republic of South Ossetia headed by President Anatoly Bibilov. A large delegation of the Donetsk People's Republic headed by Denis Pushilin worked on the sidelines of the Forum.

For the first time the Forum was attended by guests from Croatia, Luxembourg, Australia, Argentina, Guatemala, Sudan, Sierra Leone, Gabon, as well as unrecognized Somaliland. The most numerous delegations were from Germany, Italy, Syria, France, Belgium and Nicaragua. The delegations of the Syrian Arab Republic and France became the honorable guests of the V Yalta International Economic Forum: more than 50 politicians and business representatives from each of the countries attended the Forum. Two regional delegations from St. Petersburg and the Republic of Bashkortostan, headed by the Head of the region Radiy Khabirov, were also announced as honorable guests of the Forum.

The African continent was represented by 72 delegates, including 36 parliamentarians, political party leaders, senior officials and entrepreneurs from 31 countries: Sierra Leone, Benin, Burundi, Chad, the Democratic Republic of the Congo, Egypt, Mali, the Niger, the Republic of Cape Verde, Senegal, the Sudan, Tunisia, South Africa, Zimbabwe and others.

Latin America has sent more than 30 high-ranking politicians, including current MPs, Ministers, and opinion leaders from Mexico, Venezuela, Uruguay, Nicaragua, Cuba, Chile, Brazil, Argentina, Colombia, Peru, and other countries.

The representatives of the 51 subjects of the Russian Federation were sent to participate in YIEF. The delegations of Irkutsk, Volgograd, Rostov regions, Republic of Bashkortostan, Krasnodar region, Sevastopol were headed by the heads of regions personally.

Business program

During the Forum, 69 business events were held, including 54 sessions and three plenary sessions. The second Yalta conference «Sanctions world. Global challenge»  was held in the Livadia Palace. During the specialized sessions discussed the prospects of tourism, construction, wine, banking, retail, business environment, international and interregional cooperation, information security, digital economy, cryptocurrency, intellectual property protection, digitalization of medicine, export problems and other topics. Traditionally, a significant part of the program was devoted to the development of Crimea. Within the framework of this block, 13 sessions were held, which considered the possibility of developing the local road transport ecosystem, the banking sector, wineries, ecological and active mountain tourism, medical complexes, expanding the export of Crimean products and technologies.

Representatives of Latin American countries performed at the session "New horizons of international cooperation". Delegates from Argentina, Brazil, Guatemala, Mexico, Nicaragua noted the strengthening of trade relations between Russia and Latin America and expressed the hope that the future of this partnership will not depend on the influence of third forces and the domestic political situation. "Our relations are so strong that they do not depend on the change of governments," said Margarita Bolycheva, Director of the Center for the study of global socio-political problems.

Prospects for digitalization of Crimea were discussed at the session "Banks — the core of the financial ecosystem of Russia: technology, regulation, products, staff". Irina Kiviko, the Minister of Finance of the Republic of Crimea, announced the plans to provide Internet coverage to 80% of the territory of the Peninsula. Sergey Glazyev, Advisor to the President of the Russian Federation on regional economic integration, proposed the introduction of digital monetary technologies in the Republic of Crimea. "The fact that in Crimea it was managed to achieve serious success without foreign investors, who demonstratively refused to participate, says that our opportunities are not limited. And if we have barriers, then mainly those that we set ourselves," Mr. Glazyev said.

Imposed by the US and Europe sanctions against Russia must cancel is the key idea, which is anyway broadcasted in their speeches, most of the audience. "Vienna adheres to the course of the European Union regarding sanctions, but at the local level, many do not share this approach. At this level, we must seek the lifting of sanctions," — the Austrian politician Detlef Wimmer said.

The conference participants discussed ways to counter sanctions. There were ideas of strengthening cooperation between countries that were under economic pressure from the United States and its allies, the development of independence from Western institutions. In particular, a member of the European Association "Lawyers for democracy and world human rights" Janis Rahiotis spoke about the need to develop financial and banking systems independent from the United States.


As a result of the V Yalta International Economic Forum, 102 documents were signed for a total amount of 215 billion rubles. Thus, in this respect, the Forum surpassed the results of work in 2018.

The Council of Ministers of the Crimea approved 10 memorandums of intent for a total amount of 44 billion rubles. With the government of the Republic of Crimea and the development Corporation of the Republic of Crimea, 8 agreements on cooperation in the implementation of investment projects were signed, within which it is planned to attract investments in the amount of about 8 billion rubles. The implementation of the agreements will create 1,730 jobs. The largest investment projects are planned to be implemented in agriculture, tourism and IT-sphere.

Four agreements were signed in the field of food processing industry. In particular, it is planned to implement the following investment projects: the creation of an agro-industrial plant for the processing of fruits and vegetables and canned food production, the creation of five plants for the production of kvass, a complex for lyophilization of products in the food industrial park "Crimean gold", the construction of a plant for the production of coffee, chicory and cocoa. The total amount of investment in the projects reaches 3.25 billion rubles.

Agreements on the construction of a residential complex in the city of Yalta and a water sports complex "Golden beach" have been signed.

During the Forum, a Memorandum of understanding with BCGCM Bahrain Advisory (Kingdom of Bahrain) was signed, according to which the parties will contribute to the expansion of business contacts between enterprises, organizations, firms and entrepreneurs of Russia and the Kingdom of Bahrain.

Agreements on twinning of the cities of Tskhinval (Republic of South Ossetia) and Kerch, intergovernmental agreements on trade, economic, scientific, technical and cultural cooperation between the Republic of Crimea and the Republic of South Ossetia, as well as a number of other agreements were signed.


The Yalta International Economic Forum (YIEF) is an annual international business event in the economic sphere, held in Crimea since 2015. YIEF is one of the four largest economic forums in Russia along with the St. Petersburg Economic Forum, the Eastern Economic Forum and the Russian Investment Forum in Sochi.

The Forum is organized by the Government of the Republic of Crimea and the Yalta International Economic Forum Foundation with the support of the presidential Administration.

The main forum venue is the MRIYA RESORT&SPA hotel, a number of events were held in Livadia and Vorontsov palaces.

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