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The development of Siberia and the Far East is a unique chance for the APR countries - Putin

Vladimir Putin took part in a session at the Asia-Pacific Economic Cooperation Forum Business Summit on the Importance of the Asia-Pacific Region for Russia.

The head of the Russian state, in particular, stressed that interaction with the APR is a strategic and priority direction for Russia. In addition, the President informed the participants of the meeting about Russia's plans to expand cooperation with the APR countries, including increasing trade and preferential terms for investors, the Kremlin's press service said.

“The development of such regions of Russia as Siberia and the Far East is a unique chance for the countries of this large region, an opportunity to effectively and effectively use the prospects opening up here and further strengthen their potential,” the President stressed.

"We consider the development path of many APR countries as a successful example of achieving competitiveness. They have reached the forefront in the innovative sector, they have significant financial and investment resources. And even in the conditions of negative global trends of recent years, they demonstrate good dynamics, only slightly lowering the growth rates.

At the same time, in order not to fall into the prolonged period of such a slowdown, the countries of the region will need to undertake significant structural reforms. It is no coincidence that our Chinese friends, for example, identified this issue as one of the priorities of their chairmanship in APEC.

Russia in this case is no exception. For us, structural changes in the economy are of paramount importance. Today, trade with the countries of the Asia-Pacific region accounts for more than a quarter of the total Russian commodity turnover. In the future, we plan to increase this share to 40 percent and take concrete steps to expand the geography of our exports, increase the share of non-raw and high-tech goods.

In the Far East, we plan to create an entire network of territories of advanced development with preferential tax conditions, simplified administrative procedures. Enterprises that are planned to be located here will be oriented to a narrow export of non-primary goods, primarily for the ATR zone.

I would like to take this opportunity to invite you, ladies and gentlemen, to take advantage of the opening opportunities for the organization of production in the Far East of the Russian Federation. I repeat, we are ready to create really better, competitive conditions for you to work. By the way, in comparison with 2009 the volume of direct investments of APR countries in the Russian economy has doubled. Now they are almost nine billion dollars, "- said in his speech, Vladimir Putin.

The volume of Russian investment in the APR states in the past year amounted to just over one billion dollars.

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