Russia Should Take Advantage of Asia-Pacific Proximity
World Economy

Russia Should Take Advantage of Asia-Pacific Proximity

Russia should benefit from its geographical proximity to the Asia-Pacific region, Prime Minister Dmitry Medvedev said on Wednesday.
“As part of the Asia-Pacific, Russia should exploit the advantages offered by this technology and innovation center,” Medvedev told the Gaidar Economic Forum in Moscow. “It is in no way connected with sanctions. It is simply advantageous and useful for us,” he said, noting that Asia-Pacific economies accounted for about a quarter of Russian foreign trade and for more than half of global GDP, Tass reported.
Particular attention would still be paid to cooperation with neighbors, the prime minister said, recalling that the Eurasian Economic Union, comprising Russia, Belarus and Kazakhstan, became operational in January this year. He also recalled that Armenia had recently joined an initially three-member-state Moscow-led Customs Union, and a treaty on Kyrgyzstan’s accession to the alliance would come into force in the coming months.
“This confirms that our association is generally attractive and it is developing in the best interests of all its participants,” Medvedev told the forum.

 BRICS Mechanisms
The prime minister noted that this year Russia was due to host a summit of the BRICS developing-nation assembly of Brazil, Russia, India, China and South Africa, and a summit of the Shanghai Cooperation Organization (SCO), a security grouping comprising Russia, China and the Central Asian former Soviet republics of Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan.
Medvedev said it was necessary, therefore, not only to establish political interaction but also to work on new financial institutions, such as a development bank and a pool of BRICS currency reserves. SCO member states were also developing financing mechanisms to fast-track promising projects, he added. “All these multifaceted instruments of joint lending help to implement new economic projects,” Medvedev said, stressing that Russia would also continue working on agendas of other international organizations and forums, including the G20 summit.
“Some important macroeconomic and financial initiatives were presented in Brisbane last year,” the prime minister said. “We have started discussing many of them during Russia’s (G20) presidency. We will continue this work,” he added.

 Bitcoin Blocked
Russian media watchdog Roscomnadzor has blocked access to a website on bitcoin in Russia. The URL bitcoin.org was listed on the register of banned websites on Tuesday under the court decision.
The watchdog’s register says that the court ordered the Internet resource to be black-listed on September 30, 2014. At the moment, the website is unavailable for users of a number of network providers. Roscomnadzor has not commented on the reason behind the blocking yet.


Short URL : http://goo.gl/8uqPV3

You can also read ...

Debt to GDP ratios across the OECD averaged 73% last year and its members are set to borrow $14.67 trillion from the markets this year.
The world economy is at risk from a rising tide of government...
US has accused ABLV of money laundering and breaching  sanctions on North Korea.
The European Central Bank said Saturday it has determined that...
S&P Ups Russia to Investment Grade
Russia received a long-awaited upgrade to its sovereign rating...
China’s Geely Buys $9 Billion Daimler Stake
The founder of Zhejiang Geely Holding Group Co. has...
Mexico Hosts 39 Million Tourists, Earns $21 Billion
Mexico saw record revenues from international tourism in 2017...
Thorny issues such as content rules for  cars remain unsolved.
It’s looking increasingly likely Nafta talks will extend...
Peru Deficit Narrows
Peru had a current account deficit of 1.3% of the gross...
Manafort Indictment Spells Trouble for Bankers
Recently filed federal charges against President Donald Trump’...