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Russia eyes further cooperation with APEC partners

(Xinhua)

09:28, September 03, 2012

MOSCOW, Sept. 3 (Xinhua) -- Russia is seeking to further develop the mutually beneficial cooperation with partners of the Asia-Pacific Economic Cooperation (APEC), a senior Russian official said.

"We have big hopes for further cooperation with our APEC partners in the implementation of a number of projects," Viktor Ishayev, Minister for the Development of the Russian Far East, said in an interview with Xinhua on the eve of the APEC summit, which is to be held in Russia's Far East city Vladivostok from Sept. 8 to 9.

Ishayev highlighted APEC's role in the global economy, saying the bloc, comprising some of the most dynamic and robust economies in the world, accounts for over half of the global economic output and 48 percent of its total trade.

"Unlike the crisis-shaken Europe, the Asian-Pacific region has developed rapidly, and the APEC economies, including China, are our important economic and political partners," the minister said.

Ishayev said Vladivostok was named as the APEC host city on strategic consideration, since the Far East is the core region for Russia's economic integration with other APEC members.

However, Ishayev was not satisfied with the foreign investment the region has so far attracted from APEC members, which only accounted for 16 percent of total money inflow into Russia last year.

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