Fri, September 07, 2012
World > Asia-Pacific > APEC 2012 in Russia

Russia hopes to trade more with Asia-Pacific than EU in 5-10 years

2012-09-07 08:21:41 GMT2012-09-07 16:21:41(Beijing Time)  Xinhua English

VLADIVOSTOK, Sept. 7 (Xinhua) -- Russia would strengthen economic relations with other Asia-Pacific economies, hoping that its trade with the region would exceed that with the the European Union (EU) in five to 10 years, a senior official said Friday.

"As we continue broadening traditional economic ties (with the EU and the Customs Union), we should energetically accelerate integration and cooperation with the Asia-Pacific region," First Deputy Prime Minister Igor Shuvalov told a news briefing on the sidelines of the APEC CEO summit.

"We would like to make this sector strong enough in the coming five to 10 years to expand trade with this region even more than with Europe," he said.

According to Shuvalov, Russia will give all possible support to the country's integration processes with global or regional blocs, such as the World Trade Organization (WTO) and the tripartite Russia-Belarus-Kazakhstan Customs Union.

Russian leaders will also support negotiations on free trade zones with other countries, Shuvalov said, adding that his country has been already in such talks with New Zealand and Vietnam.

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