VTB Bank has provided members of the APEC Business Advisory Council with its concept and preliminary program of the 2012 APEC CEO Summit, which is to be held in Russia this September.
Andrey Kostin, VTB Bank President and Chairman of the Management Board, has been appointed as Chairman of the 2012 APEC CEO Summit. Over 700 executives from the largest companies of the Asia-Pacific Rim are expected to participate in the summit, which will take place in the Russian city of Vladivostok (Russky Island) on September 7-8, 2012.
«Globalization and economic integration, cooperation in the monetary and financial sector, transport infrastructure, energy, food and water resources, and development of new technologies will be the core issues this year».
member of the Supervisory Council JSC VTB Bank President and Chairman of the Management Board
Andrey Kostin said: “It is a great honor for me to be appointed as Chairman of the CEO Summit in the year, Russia chairs APEC. Traditionally, business leaders from the leading states of the region speak at the APEC CEO Summits. Globalization and economic integration, cooperation in the monetary and financial sector, transport infrastructure, energy, food and water resources, and development of new technologies will be the core issues this year”.
The CEO Summit preliminary program was presented during this year’s first meeting of the APEC Business Advisory Council, held on February 21-24 in Hong Kong. VTB Group representatives have made a presentation on the problem of the financial stability maintenance in the region and in the world.
APEC, or Asia-Pacific Economic Cooperation, is an intergovernmental forum established in 1989 to secure the development of integration ties between the states of the Asia-Pacific Rim. Currently 21 economies (states and territories) are APEC members: Australia, Brunei, Vietnam, Hong Kong, Indonesia, Canada, China, Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, Russia, Singapore, the United States, Thailand, Taiwan, Philippines, Chile, and Japan. In 2012 the APEC Summit is to be chaired by the Russian Federation. The APEC Summit will be held on September 8-9, 2012 in Vladivostok, Russky Island.
APEC CEO Summit is an annual conference for the business elite of the Asia-Pacific Rim, held in line with the meeting of the heads of state during the APEC Summit. Business summits are held in the form of business forums with the executives from the APEC states, during which strategic issues of economic cooperation in the region are being considered. After the 2011 APEC Summit in Honolulu Andrey Kostin, VTB Bank President and Chairman of the Management Board, has been appointed as the 2012 APEC CEO Summit Chairman. The CEO Summit will be held on September 7-8, 2012, in Vladivostok, Russky Island.
APEC Business Advisory Council is one of the APEC working bodies, through which the participants of the forum cooperate with the business representatives of the region. Each member of the forum delegates three representatives, appointed by the heads of state. Currently, Russia is represented in the APEC Business Advisory Council by Andrey Kostin (VTB Bank), Oleg Deripaska (Basic Element), Ziyavudin Magomedov (Summa Group). Meetings of the Advisory Council are held regularly once in a quarter, while this year’s final meeting will be held on September 4-6, 2012, in Vladivostok.