The 20th St. Petersburg International Economic Forum is now underway, discussing the economies of Russia and the world.

More than a thousand companies are taking part, including China's Alibaba and Huawei. Political figures from 40 countries and organizations are also there. Russian President Vladimir Putin is scheduled to meet UN Secretary General Ban Ki-Moon and Italian Prime Minister Matteo Renzi on the sidelines.

The forum has been called Russia's Davos, featuring round table meetings, debates and sub forums.  Last year, nearly 300 billion US dollars worth of deals were signed.