U.S. economist says Petersburg forum useful for emerging markets

The upcoming economic forum in St. Petersburg will provide a useful focus on emerging economies that has been lacking at forums in other countries, a U.S. economist said on Friday.

MOSCOW, May 29 (RIA Novosti) - The upcoming economic forum in St. Petersburg will provide a useful focus on emerging economies that has been lacking at forums in other countries, a U.S. economist said on Friday.

The June 4-6 forum will be devoted to urgent global development issues. It will be divided into two parts, covering economic and financial areas, and involve more than 2,000 participants.

"The forum in Russia provides a unique event to showcase how an emerging country can grow and can develop and how entrepreneurship and market economies can flourish. I believe much of the forum will focus and highlight that process for emerging market countries such as Russia much more so than, say, the London forum did," said Lee E. Ohanian, professor of economics at UCLA.

"I do think there is something new to be said on the forum in St. Petersburg with the focus on emerging markets that we do not necessarily see as much at, say, the London forum or Davos."

RIA Novosti is the official media sponsor for the St. Petersburg International Economic Forum.