Russia will continue taking part in the World Economic Forum (WEF) in Davos, Russian President Vladimir Putin said on the outcomes of the meeting with WEF Chairman Klaus Schwab.

Axar.az reports citing TASS.

"We have always maintained ties with your forum, the one you founded, and our ties will continue. Of course, representatives of Russia have always taken part in the events organized by you, and they will continue doing so," he said.

Putin noted that the global economy is currently facing various challenges. The global GDP rate is decreasing, while according to the World Trade Organization (WTO), global trade might reach 1.2% instead of the previously predicted 4%, the Russian leader added.

"This is why international platforms such as yours - the World Economic Forum in Davos - are in high demand. They provide a great deal of benefit, supporting people in their goal to work openly, in accordance with the existing international law, establishing contacts between entrepreneurs and between government officials," Putin said.

The Russian leader reminded that Russia also holds business events aimed to establish working ties with its partners in St. Petersburg, in the Far East, in Southern Russia and in Siberia. "We follow your example," the Russian leader said.