Russia's participation in APEC business summit to boost trade and economic development

Moscow believes that the participation of Russian businessmen in Business Summit of the Asia-Pacific Economic Cooperation (APEC) will give an additional impetus to development of trade and economic ties with countries of the Asia-Pacific region.

This was disclosed by Russian Foreign Ministry's official spokesman Alexander Yakovenko in his RIA Novosti interview on the eve of the APEC summit in Mexico. According to him, over 30 Russian businessmen will take part in the summit.

He noted that the Russian Foreign Ministry attaches great importance to Russia's participation in the APEC, in particular, to holding functions on the Russian territory. In 2002 Russia hosted the Forum of business cooperation in innovation entrepreneurship held in Moscow in May and the session of the APEC working group for telecommunications held in Moscow in August, and the APEC investment symposium and large-scale investment fair held in Vladivostok (Russia's Far East) in September.

Yakovenko stressed that Russia strives to step up its participation in APEC working bodies and programmes, is prepared to make a significant contribution to the organisation activity to ensure sustained economic development of countries of the region in many directions. Moscow sees good prospects for expanding cooperation in energy sphere, specifically in construction of gas and oil pipelines.

The use by APEC countries of Russia's transportation infrastructure, i.e. cross-polar air routes from Asia to North America, the Trans-Siberian Railway with junction of, for example, the Trans-Korean railway section, and potentials of Far Eastern sea ports, is also a perspective direction. Moreover, Moscow reckons on setting investment, scientific and technological cooperation, primarily with the involvement of Siberian and Far Eastern regions. "We hope that the APEC will take an active part in these large-scale projects," the diplomat underscored.