Speaking at the event, which is an international forum to discuss the development of Russia's economic policy, Ivanov said that developing mega deals such as the U.S.-driven Trans-Pacific Trade Partnership (TTP) or Russia's Eurasian Economic Union were inevitable. This, he said, was a consequence of global competition and an effort to exit from economic recession hitting many nations and regions in the world.

However, said Ivanov, such agreements could only bring success in conflict zones such as Ukraine, the Mediterranian or Southeastern Baltics through long-term and carefully crafted cross-border cooperation. This way, he said, it would create stability as well as cooperative business and cultural environment at the regional level.

Ivanov added that such regional or local initiatives would lead to sustainable practices of mutual understanding and peaceful social coexistence. Focusing only on infrastuctural improvements and easier movement of goods, capital and workforce, he argued, might result in uncontrolled migration, development of illicit economy and even inter-ethnic war.

The Moscow Economic Forum was first held in 2013. This year the forum focused on reviewing Russia's market reforms since their implementation 25 years ago and finding alternative courses of development. Participants included economic policy makers, academia and private sector leaders.

Click here to learn more about the forum.