Russia And LAC Synergize At SPIEF 2024
Hence why the SPIEF 2024 marks Russia's shift from sidestepping sanctions to establishing a system for engaging in global multipolar commerce.
The St. Petersburg International Economic Forum 2024 (SPIEF) which was held in Russia from June 5 to 8, garnered significant interest from various countries in the Latin American and Caribbean (LAC) region. The article highlights noteworthy LAC-Russian exchanges that took place at the recent SPIEF.
As Russia is winning the NATO proxy war in Ukraine, there's a growing list of Latin American, African, and Middle Eastern partners who want to expand relations as Russia is now holding the presidency of the BRICS. Hence why the SPIEF 2024 marks Russia's shift from sidestepping sanctions to establishing a system for engaging in global multipolar commerce. The forum is multifaceted, serving as a platform for discussing international geoeconomic issues to develop cooperative, industrial, military, and commercial ties.
Nicaragua
The Central American Sandinista country sent a delegation with Laureano Ortega, special envoy of the president, whose main message was that Nicaragua appreciates its relations with Russia, and is ready to defend them, wishing to further strengthen them by joining BRICS. Envoy Ortega expressed gratitude for the support provided by Russia in strengthening the National Police and the Nicaraguan Army. Russian know-how is vital for the Sandinista country in the biotech industry, medicine, transportation, and even nuclear energy. Guillermo Daniel Ortega Reyes, a Nicaraguan politician serving as vice-president of the Central American Parliament, explained in an interview with Sputnik Mundo how the political body of the region managed to reject attempts by European leaders to have them express support for Ukraine in the context of the US-NATO proxy war against Russia.
Cuba
Cuban Deputy Prime Minister Ricardo Cabrisas Ruiz's delegation visit to Russia SPIEF 2024 aims to strengthen and diversify economic ties with Russia, reflecting their allied status, and will discuss key bilateral matters of security, energy and infrastructure to support Cuba's Economic and Social Development Plan through 2030. Moreover, the Russian Ministry of Agriculture confirmed during the SPIEF that Russia possesses the required resources to increase the export of agricultural goods to Cuba, after discussions held with the Cuban Deputy Prime Minister and Minister of Foreign Trade and Investment.
Venezuela
Venezuela expressed interest in becoming a member of the BRICS at SPIEF 2024 as voiced by the nation's delegation led by José Félix Rivas Alvarado, Vice-President for the Economy and Minister of Industries and National Production. Rivas Alvarado also highlighted the potential for peaceful applications of nuclear energy in both industrial and social sectors. The Venezuelan state comprehends that Russia must play a big part in their nation's recovery from years of US sanctions and, Hybrid War. The 2023 adoption of the Russian MIR payment system by the Caribbean nation enabled a sanction-proof way of making financial transactions between the two nations, which engage in trade using their respective national currencies. Moreover, the Tourism Minister, Alí Padrón, highlighted the success of boosting Russian tourism due to the establishment of a direct flight route from Moscow to the Caribbean via Venezuela's Conviasa airline.
El Salvador
During his address at the SPIEF, El Salvador's Vice President, Felix Ulloa, confirmed the nation's intent to enhance its trade ties with Russia. El Salvador seeks to court trade and investments for infrastructure deals within a coherent multipolar financial architecture. The Central American state is eager to host a Russian embassy on its soil, expressing also interest in the idea of reciprocal presidential visits between Nayib Bukele and Vladimir Putin according to a Sputnik interview.
Bolivia
The President of Bolivia, Luis Arce, arrived in the city of St. Petersburg on the occasion of the SPIEF celebration. During the event, he met with his Russian counterpart, Vladimir Putin, and will address, among other issues, the possible entry of Bolivia into the BRICS group. In the meeting, they spoke about moving forward with the important work agenda to strengthen their bilateral relations in the areas of trade, nuclear energy and lithium industrialization.
México
Carlos Barrera Romero, the Vice President of Sectors and Industrial Branches at Canacintra, stated at SPIEF 2024 that a critical period for Mexico and Russia's economic and commercial engagements was approaching while signing two agreements at the event. According to Barrera Romero, Mexican and Russian industrial sectors are poised to strengthen and boost trade relations, while developing financial strategies to ensure smooth commercial transactions mainly with the aerospace, automotive, and metallurgical industries.
Argentina
While Argentina's president aligns with the Western Rules-Based Order, this does not impede the private sector's autonomy, retaining the liberty to engage in trade and enter into agreements with any nation globally including Russia. According to a Sputnik Mundo interview with the president of the Argentina-Russia Business Council, Poli Cousiño, Argentina has secured Russian insulin supplies for its markets, and is negotiating to secure fertilizer suppliers and vodka import deals from Russia, which means their relations are still vibrant.
The SPIEF 2024 marked a significant milestone for the LAC region countries, as they engaged in pivotal economic exchanges with Russia. The forum facilitated discussions on a multipolar world economy, technological leadership, and social development, which are crucial for the LAC region's growth and connectivity integration with Russia.