Russian President Vladimir Putin and Bolivian President Luis Arce convened in Russia on Thursday, where Putin expressed confidence in Bolivia's pivotal role at the upcoming St Petersburg International Economic Forum (SPIEF).

Putin lauded Arce's expertise in economics, citing his previous tenure as Minister of Economy and Finance. "I am sure that you will make a significant contribution to our forum," Putin affirmed, urging Arce to actively engage in the discussions.

Highlighting the burgeoning co-operation between Russia and Bolivia, particularly in high-tech domains, Putin pointed to the positive trajectory of bilateral trade turnover. He spotlighted collaborative ventures in nuclear research and technology, including Rosatom's endeavours in El Alto, where the largest radio-pharmacological complex in Latin America is being developed.

In reciprocation, Arce expressed gratitude for the SPIEF invitation and reiterated Bolivia's commitment to strengthening ties with Russia. "We are very grateful and, of course, we will actively participate in it," Arce affirmed, underlining Bolivia's readiness to share its insights and experiences.

SPIEF 2024, slated from June 5-8, is poised to attract a diverse assembly of participants from over 136 countries. Since its establishment in 1997, the forum has served as a prominent platform for global discourse on economic and business affairs, with the patronage and engagement of the Russian president since 2005.