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The APEC Summit is a chance for Russia

Published on Sept. 6, 2012

The APEC Summit is a chance for Russia

The Asia-Pacific Economic Cooperation Summit, held in Vladivostok between the 2nd and 9th of September, appears as an opportunity for change for Russia.

After 21 billion dollars invested and more than 500 entrepreneurs gathered, the summit will focus on the Russian 2012 APEC presidency’s priorities.

Among those priorities, the country has highlighted liberalization of trade and investment, regional economic integration, strengthening food security, forming reliable transport and logistics systems and cooperation in attaining innovation growth goals.

The Kremlin expects to change its policy, which was merely focused on Europe, to approach Asia, particularly China, which has been a tough competitor up to now. The trade between Russia and China has decreased over the recent years and the relationship has strained.

This policy change is a challenge for Russia, given the Chinese superiority in terms of population, GDP and resources.

“The economic and social recovery of Siberia and the Far East are the priorities of the Russian state,” the Foreign Minister Sergei Lavrov said. Siberia and the Far East have been chronically underdeveloped and are quickly depopulating.

This is the first time that Russia hold the summit since it entered the group in 1998. The Kremlin will deliver a speech at the beginning and a news conference at the end of the summit.


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