Women's Cooperation as a Growth Driver: The Role of Women in Economic Transformation Discussed at the SPIEF
On June 19, the Eurasian Women's Forum hosted a session titled "International Cooperation between Women for Economic Development" as part of the St. Petersburg International Economic Forum. This discussion brought together leaders of women's organisations, government officials, business representatives, and experts from Russia, the BRICS nations, APEC, G20, and Africa.
Participants underscored the pivotal role that women's international associations play in advancing the global sustainable development agenda. Amidst the economic transformation driven by geopolitical shifts and digitalisation, women's collaboration emerges as a vital resource for nurturing human capital, enhancing business activity, and fostering innovation. The session particularly focused on creating conditions that enable equal participation of women in the economy while expanding their access to international markets, finance, and technology.
The discussion was moderated by Guzeliya Imaeva, Chief Executive Officer at NAFI Research Centre. Joining the session as speakers were Galina Karelova, Chair of the Council of the Eurasian Women's Forum, Victoria Panova, Head of the BRICS Expert Council-Russia and Vice Rector at HSE University, Hadriani Uli Silalahi, Indonesian W20 Sherpa, and Marat Berdyev, Ambassador-at-Large for G20, APEC, and GEP at the Ministry of Foreign Affairs of the Russian Federation.
Victoria Panova articulated that gender equality transcends social justice; it also represents a powerful economic asset. She highlighted that dismantling barriers to women's participation in the economy could potentially contribute $7 trillion to global GDP. Additionally, Dr Panova emphasised the necessity for institutional support of women's initiatives, regular progress monitoring, and the creation of shared information platforms.
The session showcased successful collaborations, including initiatives like the BRICS Ecological Female Projects Award, coordination mechanisms between the W20 and the EWF, as well as the efforts of G20 Empower and We-Fi (Women Entrepreneurs Finance Initiative), all of which promote women's economic empowerment and elevate their influence on the international stage.
Galina Karelova highlighted the robust growth of women's entrepreneurship in Russia, where women now represent 41% of all entrepreneurs. She emphasised the remarkable diversification of women-led businesses—expanding far beyond traditional sectors like consumer goods manufacturing and pharmaceuticals into dynamic fields such as tourism, green technology, and high-tech innovation.
Marat Berdyev reminded the audience that the women's agenda has long been a cornerstone of international cooperation, emphasising that today, women are pivotal players in both political and economic spheres. He noted that Russia is actively advancing this initiative on global platforms. In diplomatic circles, the empowerment of women has transcended mere symbolic gestures, demanding concrete mechanisms for real change. This is precisely what Russia is undertaking within international frameworks like the G20 and APEC: crafting policy documents, championing initiatives, and establishing platforms for women from diverse nations to connect. Russia advocates for clear and tangible initiatives that create real opportunities for women, free from politicisation or concept manipulation.
Hadriani Uli Silalahi underscored the growing importance of enhancing women's participation in the global economy amidst ongoing technological and structural shifts. The Women's Twenty is spearheading digital inclusion and support efforts, ensuring women entrepreneurs gain equal access to technologies, education, and markets. According to her, a critical task today is to establish sustainable mechanisms for international cooperation—ranging from educational programmes to trading platforms.
The discussion concluded with a consensus on the necessity to further strengthen connections between women's associations across nations, promote collaborative projects, and share best practices. Participants expressed their eagerness to expand international cooperation, recognising women's collaboration as a powerful catalyst for sustainable development and inclusive economic growth.