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APEC moving toward harmonious growth
Russia has a stake in the successful future of the Asia-Pacific region, and in promoting sustainable and comprehensive growth throughout its entire territory.
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Cityscape of Danang, Vietnam in the evening light. (Shutterstock/File)
T
he 25th anniversary APEC Economic Leaders’ Meeting will take place in Danang, Vietnam on Nov. 10-11. We greatly value the APEC forum for the ample opportunities it affords all participants to engage in discussions and coordinate positions on a variety of economic, social, environmental and cultural issues. Our countries strive to cooperate based on the principles of consensus and voluntary participation, mutual respect and willingness to compromise, regardless of the political situation. This is what APEC’s unique spirit of partnership is all about.
As a major Eurasian power with vast Far Eastern territories that boast significant potential, Russia has a stake in the successful future of the Asia-Pacific region, and in promoting sustainable and comprehensive growth throughout its entire territory. We believe that effective economic integration based on the principles of openness, mutual benefit and the universal rules of the World Trade Organization is the primary means of achieving this goal.
We support the idea of forming an Asia-Pacific free trade area. We believe this is in our practical interest and represents an opportunity to strengthen our positions in the rapidly growing APR markets. I want to note that over the past five years, the share of APEC economies in Russia’s foreign trade has increased from 23 to 31 percent and from 17 to 24 percent in exports. And we have no intention of stopping there.
Of course, the large-scale project to create the APEC free trade area should be carried out with due account of the experience gained from implementing key integration formats in the Asia-Pacific region and Eurasia, including the Eurasian Economic Union (EAEU), in which Russia cooperates with Armenia, Belarus, Kazakhstan and Kyrgyzstan. Our union has been developing dynamically, and we are eager to build relations with all countries and associations that are interested in doing so.
