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Russia presented the projects of the Association of Export-Import Banks of Northeast Asia
Deputy Minister of Economic Development Pavel Korolev took part in the 15 session of the Advisory Commission of the Expanded Tymangan Initiative (RTI), the inaugural meeting of the Association of Export-Import Banks of North-East Asia and the Dialogue on Infrastructure Investments and Regional Cooperation, the press service of the ministry reported.
The delegations of China, Mongolia, the Republic of Korea, deputy heads of the Association of Banks (Vnesheconombank, Export-Import Bank of the People's Republic of China, Development Bank of Mongolia, Export-Import Bank of the Republic of Korea), heads of the regions of the RTI and Japan attended the events.
During the 15 session of the Consultative Commission of the RTI, the Concept of converting RTI to an intergovernmental organization for economic cooperation in the Northeast Asia region was approved. It is planned that the legal transformation of RTI will be completed by the end of 2016.
In addition, a number of research projects have been approved, including the intensification of multilateral cooperation between the parties in the field of transport and energy.
The head of the Russian delegation, Pavel Korolyov, presented a number of infrastructure projects for consideration by the governments of the countries of the RTI and the Association of Export-Import Banks of Northeast Asia. In particular, for the development of the port of Zarubino in Primorsky Krai and the corresponding transport infrastructure in the territory of the Southern Primorye. The Russian side expects the partners of the countries of the RTI to be actively involved in financing and implementing practical activities for the development of the infrastructure of the port of Zarubino.
In addition, the Russian Vnesheconombank, the Export-Import Bank of the People's Republic of China, the Export-Import Bank of the Republic of Korea and the Development Bank of Mongolia concluded a Framework Agreement establishing the Association of Export-Import Banks of the Northeast Asian countries. The agreement will allow banks to begin joint work on infrastructure projects under the auspices of RTI with the direct participation of the governments of Russia, China, Mongolia and the Republic of Korea. The implementation of the main provisions of the document will contribute to increasing the investment attractiveness and economic growth of the countries of Northeast Asia, including the territory of the Far East of the Russian Federation.
On the sidelines of the inaugural meeting of the Association of Export-Import Banks of Northeast Asia, a Dialogue on Infrastructure Investments and Regional Cooperation was held. During the dialogue, representatives of the business circles of the RTI member countries, international organizations and financial institutions exchanged views on the development of multilateral mechanisms of interaction in terms of joint implementation of infrastructure projects in North-East Asia.