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The second Russian-Korean forum was held at the Federation Council

On August 22, the second Russian-Korean forum was held in the Federation Council, the participants of which discussed topical issues of bilateral cooperation, the press service of the Federation Council reports. The Forum was attended by Lyudmila Bokova, Deputy Chairman of the Federation Council Committee on Constitutional Legislation and State Building, representatives of a number of Russian ministries, deputies of the National Assembly of the Republic of Korea, representatives of Korean business and the expert community.

Deputy Chairman of the Federation Council Ilyas Umakhanov is convinced that the regions of the Russian Far East and Siberia have good prospects for cooperation with the Republic of Korea. Ilyas Umakhanov noted that inter-parliamentary relations between the two countries are developing steadily.

“The format of the Forum allows discussing substantive issues without ideological clichés and standards imposed from outside,” said the Deputy Chairman of the Federation Council. According to him, such meetings provide an opportunity to establish and expand personal contacts. “I hope that the holding of the Forum will fill our cooperation with concrete deeds,” the senator stressed.

Ilyas Umakhanov recalled that a visa-free regime has been established between Russia and South Korea for travel for up to 60 days. “The initiative to create the so-called Other Silk Road, a transport corridor connecting the Korean Peninsula, China, Russia, Central Asia and Europe, is interesting,” he added.

An important area is the financial and investment cooperation between the two countries. Appropriate mechanisms already exist, as memorandums of cooperation between financial institutions of Russia and South Korea have been signed. This means that there are good prospects for joint projects, especially in the regions of the Far East and Siberia, said Ilyas Umakhanov.

Deputy Minister for Development of the Far East Maxim Shereykin emphasized that the development of the Russian Far East is one of the priority areas of Russian policy. “Conditions must be created there for the implementation of investment projects that are attractive to Russian and foreign investors. South Korea's proximity to this region gives it a competitive edge, ”he said.

Maxim Shereykin also said that the Government of the Russian Federation is considering a draft law on the creation of territorial priority development zones, designed to reduce administrative barriers in this area.

Shin Sung Boom, Deputy of the National Assembly of the Republic of Korea, noted that holding such forums is intended to promote the development of relations between the two countries and the practical implementation of joint projects.

The first similar forum took place on March 26-30, 2014 in Seoul during the visit of the delegation of the Federal Assembly of the Russian Federation to the Republic of Korea. The organization of such events is in line with the general trend of strengthening Russian-Korean relations in all areas. On January 1, 2014, Russia and South Korea introduced a mutual visa-free regime for short-term trips up to 60 days. The Russian Federation ranks 12th among the foreign trade partners of the Republic of Korea. The Republic of Korea ranks 11th among the foreign trade partners of the Russian Federation.

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