APEC will accelerate Russia's integration with global economy

Russia's participation in the Asia-Pacific Economic Cooperation forum demonstrates its adherence to the goal of becoming integrated with the global economy, said Russian Minister for the Development of the Far East Region, Kremlin envoy in the Far East Federal District Viktor Ishayev.

"Vladivostok is not an accidental choice as a venue for the APEC summit, because the Far East is the decisive territory for Russia's integration with the APEC member-states," he told reporters on Wednesday.

APEC is an organization of 21 economies which account for over 75 percent of global GDP and 48 percent of world trade, he said.

Russia pins great hopes on further cooperation with the APEC partners in implementing various projects, including the construction of the Trans-Korean Railway, and the projects to lay a gas pipeline to South Korea and to build the second phase of the Baikal-Amur Railway, he said. "We want to jointly expand the port infrastructure, tourism, the services market and the banking and lending sectors," Ishayev said.

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