Delegation of the European Union to Russia

How important is participation in Global Value chains (GVC) for a successful economic strategy in the EU and Russia?

Moscow , 24/10/2017 - 12:50, UNIQUE ID: 171024_8
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Global Value Chains (GVCs) and the importance of linking domestic industries to open and competitive global economic processes will be the main topic of the international conference “Openness and Integration of the EU and Russian Economies. Global Value Chains” organized by the Delegation of the European Union in Russia in cooperation with the St. Petersburg State University in the framework of the EU project "Public Diplomacy.

Global Value Chains (GVCs) and the importance of linking domestic industries to open and competitive global economic processes will be the main topic of the international conference “Openness and Integration of the EU and Russian Economies. Global Value Chains” organized by the Delegation of the European Union in Russia in cooperation with the St. Petersburg State University in the framework of the EU project "Public Diplomacy. EU and Russia" that will take place on 27 October 2017 at the St. Petersburg State University (SPSU). The conference will form part of the annual international conference “The Evolution of the International Trading System: Challenges and Prospects”, which has been held at SPSU for over 10 years and which opens this year on October 26.

All from the end of the 20th century until now global trade has experienced some major transformations. One of the most important changes is related to the flourishing of the Global Value Chains (GVCs), where production of a single good may involve inputs from and manufacturing in many different countries. According to different estimates, 60% to 80% of all trade operations happen within the GVCs. But what are the policy conditions that are needed for a country to link to global production processes? Can firms be successful within the boundaries of a single country? Is it possible to diversify exports without stimulating imports? The conference “Openness and Integration of the EU and Russian Economies. Global Value Chains” will provide a much-needed forum for the discussion of these issues.

Guests of the conference will be greeted by Luis Portero, Head of the Economics and Trade section of the EU Delegation to Russia. Representatives of industry, the WTO, as well as professors of leading Russian universities, the Higher School of Economics and MGIMO, will speak on the topic of the conference.

For more info: Anna Korolewa, Communication Manager of the project “Public Diplomacy. EU and Russia”, Anna.Korolewa@goethe.de

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