Vladimir Putin says unipolar world turned 'obsolete' amid rise of new international order

Russian President Vladimir Putin, on Monday, stated that the unipolar model of the world has become "obsolete" and is being replaced by a new international order based on the acknowledgment of each country's sovereign path of development. Speaking on the occasion of the opening of the 7th Eastern Economic Forum, Putin stated that the main topic of this year's meeting seems to be extremely relevant and important. Notably, the theme of this year's Eastern Economic Forum is "On the way to a multipolar world." 

"The obsolete unipolar model is being replaced by a new world order based on the fundamental principles of justice and equality, recognizing the right of every state and people to its own sovereign path of development," Putin stated, as per the press release by Kremlin.

He also stressed that this irreversible process is being driven by the development of strong political and economic centres in the Asia-Pacific region. According to the Russian President, a wide range of topics pertaining to the prospects for advancing trade, investment, scientific, and humanitarian cooperation would need to be discussed by domestic and foreign leaders, entrepreneurs, professionals, as well as public personalities. 

Russia to keep making efforts to enhance regional cooperation: Putin

Further, Putin said It is crucial that business groups and local authorities participate in the forum's planned signing of commercial contracts and long-term agreements. "We note with satisfaction how direct bilateral cooperation between the Asia-Pacific states, as well as their cooperation within the framework of such influential associations as the Eurasian Economic Community, the SCO, BRICS, APEC, and ASEAN, is gaining momentum," he added. President Putin also underscored that Russia is prepared to keep working to strengthen regional cooperation in various formats with all interested partners.

About Eastern Economic Forum

Eastern Economic Forum is an international forum that is conducted annually in Vladivostok city with the goal of promoting foreign investment in the Russian Far East. The forum was created by the Russian President in 2015 in order to promote the economic growth of the country's Far East and deepen global collaboration in the Asia-Pacific region. Since the forum's inception, the President of Russia and the Prime Minister of Japan have participated each year. Notably, the 7th Eastern Economic Forum 2022 is scheduled to be held from September 5-8, 2022.

Image: AP