Medvedev: the situation in economy and financial sphere of Russia is rather stable

Medvedev: the situation in economy and financial sphere of Russia is rather stable


MANILA, November 18. The situation in economy and financial sphere of Russia is quite stable, said Prime Minister Dmitry Medvedev at the APEC CEO summit.

“For Russia, this could be one of the most difficult periods, he said. – For us it is serious crucial that collapsed oil prices fell sharply, the ruble exchange rate, plus one and a half years, our country is facing the pressure of sanctions”.

“But despite this, the situation in the economy and financial system is quite stable, we cope with the negative fluctuations of prices”, – said Medvedev.

The rules for world trade

Prime Minister of Russia believes that the world trade rules should be universal and be produced at the site of the world trade organization (WTO).

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“The rules of world trade should remain universal, this is really important, and be produced on a single site, primarily in the WTO”, – he said, speaking at the APEC CEO summit.

In this case, Medvedev believes, to the formulation of such rules should involve all stakeholders. “The only way to ensure the legitimacy of the new regulations, their dissemination to all participants”, – said the head of the government of the Russian Federation.

“So I think it is fundamentally important to the Asia-Pacific forum maintained the same consistent position in regard to, including, and achieving the so-called “Bogor goals” (document, 1994. – approx.TASS)”, he concluded.

Preferential bilateral agreements

The Chairman of the Cabinet of Ministers stressed that bilateral preferential agreements should not substitute for the global trading system. “Russia consistently supports the deepening of regional integration. All concluded in the framework of preferential trade agreements is important, of course, but, nevertheless, should not replace the multilateral trading system and not to destroy already existing ones, the existing economic ties, should only enrich,” – said Medvedev.

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Recalling in particular that the Eurasian economic Union has been around for nearly a year, he said that its full members are the five States. “We strive to establish mutually beneficial cooperation with all partners around the world. This is our contribution to this integration, – said Medvedev. – There is an agreement with our Chinese partners about the pairing of the integration processes within the Eurasian Union project of the economic belt “silk road”.

According to the head of the Russian government in may signed a preferential agreement between the EEU and Vietnam, there were similar agreements with other countries. In the Eurasian Commission has received around 40 applications from the countries on the creation free trade zones with the EAEU.

The ruble

According to the head of the government, the weakening of the ruble exchange rate allows foreign investors to buy cheaper Russian stocks. “In addition to the negative factors for foreign investors was formed and some positive moments, – he said at the APEC CEO summit. – Maybe not all like them in our country, but for foreign investors it’s not bad. I mean, the weakening of the ruble has created an opportunity to buy Russian assets cheaper than it was some time ago, and many use it”.

Foreign investment

Russia cannot do without foreign investments in the development of Siberia and the Far East, said the Medvedev. “We are interested in the Russian Siberia and the far East became our national priority of the XXI century, because it is a huge area, where there are a large number of fields, and here we are without foreign investment, in fact, not do” – said the Prime Minister, speaking at the APEC CEO summit.

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Free port of Vladivostok

The Russian government is ready to amend the legislation on the regime of the free port of Vladivostok, in response to the wishes of foreign investors, also said Medvedev.

“We hope that the conditions in this place and, accordingly, the advantages of the Franco-port will be comparable with similar ports, which are located in the Asia-Pacific region, and we will be able to compete with our partners”, – he said at the APEC CEO summit. “But it is a creative process, we will respond to our partners, of foreign investors. If you need something to correct in the legislation, we will carefully examine and amend”, – assured Medvedev.

Grain exports

Speaking about exports, the Prime Minister said that by 2020 Russia plans to increase grain exports up to 35-40 million tons. “Russia and there is now quite a lot of grain, we export quite a lot of grain, but by 2020 we believe that our export capacity will be about 35-40 million tons”, – said the head of the Cabinet.

He emphasized that for many countries in the Asia-Pacific region cooperation in the food sector is of particular importance, and there are great prospects. “The region is huge, growing, large population, and need to understand so that food safety issues will be increasingly relevant,” Medvedev said.

According to him, the increased export opportunities will contribute to solving the problem of food security. “And, we can talk not only about exports, but full-fledged cooperation in this field with our partners, with other members of the Asia-Pacific market,” he concluded.