Kirill Dmitriev, Russian Presidential Special Representative and CEO of the Russian Direct Investment Fund, predicts humanity will witness the highest oil prices in history due to an impending energy crisis, as Brent crude surpassed $100 per barrel.
South Korean President Lee Jae Myung urged enhanced economic cooperation with Mongolia, particularly in critical minerals, citing "limitless potential" due to complementary strengths in resources, technology, and capital. The leaders met at a business forum in Ulaanbaatar.
South Korea and Mongolia have reached an agreement in principle on a Comprehensive Economic Partnership Agreement (CEPA) following a summit in Ulaanbaatar. The pact aims to expand trade and investment, including tariff reductions on Mongolian minerals and Korean consumer goods, and foster cooperation in infrastructure, finance, and healthcare.
South Korea and ASEAN representatives met in Seoul to enhance cooperation in security and economic sectors. Discussions focused on advancing their Comprehensive Strategic Partnership, sharing AI strengths, and combating scam crimes, alongside regional issues like the Korean Peninsula and Myanmar.
Russian PM Mikhail Mishustin emphasized significant cooperation potential with Kyrgyzstan in industry, energy, transport, digital tech, and infrastructure. He noted growing trade turnover and Russian investments despite external challenges.
Kazakhstan plans to increase oil exports via the Baku-Tbilisi-Ceyhan pipeline and expand its presence in Georgia's Black Sea ports. The move deepens strategic ties following talks between Kazakh President Tokayev and Georgian PM Kobakhidze, focusing on energy, transport, and investment.
Indian PM Narendra Modi is on an official visit to Seychelles for its National Day Golden Jubilee celebrations, aiming to strengthen bilateral relations and maritime cooperation in the Indian Ocean, amidst regional geopolitical competition.
Russian President Vladimir Putin and Belarusian leader Alexander Lukashenko are meeting at the Valdai residence to discuss the Union State's agenda, trade and economic cooperation, and regional security issues. The talks also cover other topical matters.
Lithuania's foreign ministry announced the temporary suspension of economic cooperation action plan negotiations with Taiwan due to domestic political changes following the formation of a new coalition government. Talks may resume after the new administration is in office and its program is approved.
South Korea and Turkey began discussions in Ankara on their bilateral free trade agreement (FTA), signed in 2013. The meeting aims to deepen economic cooperation, with trade volume rising to $10.66 billion in 2025. South Korea highlighted its contributions to Turkey's economy and expressed concerns over existing trade barriers.
Turkish Foreign Minister Hakan Fidan stated that Ankara and Moscow will continue joint efforts to strengthen bilateral cooperation, emphasizing the deep historical roots of their relations and their importance for international security. Fidan's remarks followed a two-day visit to Russia where he met with President Putin and other high-ranking officials.
The Russia-ASEAN Business Forum has created a significant international platform for discussing trade, economic, and investment cooperation between Russia and ASEAN nations. Representatives from 17 countries attended, with prime ministers from Malaysia, Thailand, and Vietnam highlighting strong interest in expanding collaboration. Several documents were signed, including MOUs and strategic cooperation agreements.
India and the UK will implement their free trade agreement on July 15, enabling tariff reductions and enhanced economic cooperation. The pact, signed last year, is expected to boost bilateral trade by £25.5 billion annually and includes significant tariff cuts on products like whisky, automobiles, and cosmetics.
Russian Prime Minister Mikhail Mishustin stated that Russian businesses are present throughout Uzbekistan, contributing to job creation and increased production of sought-after goods. He highlighted a joint Investment Platform supporting business initiatives, including a pilot project for a soft drink and food product plant.
South Korea and Mongolia held talks in Ulaanbaatar to speed up economic cooperation, focusing on progress for a Comprehensive Economic Partnership Agreement (CEPA) and strengthening supply chains for key minerals. The CEPA aims to expand trade, investment, and establish stable joint supply chains for minerals vital to cutting-edge industries.
A signing ceremony for ten policy measures to promote cross-strait exchange and cooperation was held in Xiamen, Fujian. Mainland enterprises signed agreements with Taiwanese businesses and associations to purchase specialty agricultural and fishery products from Taiwan. The event aims to deepen cross-strait integration and promote national reunification.
A signing ceremony for ten policies promoting cross-Strait economic cooperation was held in Xiamen. Mainland Chinese companies signed agreements to purchase agricultural and fishery products from Taiwan, including custard apples, pomelos, and tea. Officials from both sides emphasized the importance of cross-Strait relations and economic integration.
Korean business leaders, including Ryu Jin of the Korea Economic Confederation, met with Italian counterparts in Rome to discuss strengthening economic ties. They highlighted ideal partnerships in advanced industries like AI and aerospace, building on existing supply chain and defense cooperation. Lee Jae-yong of Samsung also attended, noting collaborations with Ferrari and Stellantis.
Russian Ambassador to Tokyo Nikolay Nozdrev stated Russia's openness to a dialogue with Japan based on mutual respect, aiming to strengthen economic, cultural, and humanitarian ties. He noted that despite deteriorating relations due to Japan's sanctions, protecting Russian compatriots in Japan remains a priority.
Russia expects a 60% increase in mutual tourist flow with China in 2026, reaching 4-4.5 million trips, driven by increased flights and competitive pricing.
EU trade chief Maros Sefcovic met China's Li Chenggang in Paris, calling for practical approaches and 'meaningful discussion' to address trade concerns like non-market practices and overcapacity.
Perm Krai and Uralchem signed a memorandum on socio-economic cooperation at the St. Petersburg International Economic Forum. The agreement focuses on social development, environmental protection, and economic growth, including infrastructure upgrades and support for human capital.
India and Venezuela are expanding cooperation, especially in energy, with Venezuela becoming India's third-largest crude oil supplier. Discussions aim for a structured energy partnership, covering upstream and downstream sectors, leveraging Venezuela's vast oil reserves and India's growing demand.
Saudi Arabia's Deputy Minister of Investment highlighted the strong economic ties with Russia at the St. Petersburg International Economic Forum, emphasizing shared industrial and technological priorities and mutual investment opportunities.
