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On November 10-11, 2010 in Yokohama (Japan) Minister Elvira Nabiullina attended a meeting of foreign ministers and trade ministers of the participating countries of the Asia-Pacific Economic Cooperation (APEC)

11.11.10

On November 10, 2010 during the meeting the sides discussed topical issues in support of the multilateral trading system and in achievement of free trade and investment growth in the Asia-Pacific region by 2010 (Bogor Goals, APEC) and the further development of regional economic integration; besides that they discussed the draft Strategy for Economic growth of APEC member countries in the post-crisis period.

In her speech, E. Nabiullina supported the view of participants on the need for early conclusion of Doha Round negotiations.

As was noted by E. Nabiullina, promotion of the regional economic integration takes many forms - it might be the formation of APEC Asia-Pacific free trade zone, despite the fact that it still raised many questions and various initiatives on trade facilitation. Russia's special interest is particularly in the creation of coherent transport and logistics chains, which allow the movement of goods around the entire commodity chain with minimal costs  with the help of navigation and information technologies (such as GLONASS), the minister said.

During the discussion of the Strategy for Economic Growth of APEC member countries, E. Nabiullina outlined the necessity of expanding the section of the innovation component of growth due to the advantages of introducing nanotechnology and the transition from microelectronics to nano and optoelectronics, the introduction of biotechnology and new materials in addition to extensive work in information and telecommunication technologies.

Bilateral consultations were also held during the first day of the meeting of Ministers of the Member States of the APEC forum.

A key theme of E. Nabiullina’s meeting with Tim Grocery, the Minister of Trade of New Zealand was to discuss mechanisms that would remove barriers blocking the way for trade and investment between the countries and which are related to the geographic remoteness of the two countries. The parties have agreed on the specific steps needed to make full use of the existing potential of economic cooperation between Russia and New Zealand; the most promising products among those of New Zealand on the Russian market are related to the agricultural sector. The New Zealand side also informed about the approach it is pursuing to further trade liberalization in the APEC region.

Mari Elka Pangestu, the Minister of Trade of the Republic of Indonesia, also exchanged views with her Russian counterpart on issues of the forthcoming presidency of both countries in APEC – for Russia in 2012 and Indonesia in 2013. The ministers supported the idea of some kind of continuity presidency so that the priorities that countries-chairmen have been developing (next year the U.S. will be chairing) will mutually complement and reinforce each other. Also at the meeting the current state and prospects of bilateral relations between Russia and Indonesia were discussed and a Memorandum on mutual cooperation on investment and trade and economic issues between the Ministry of Economic Development of Russia and the Ministry of Trade of the Republic of Indonesia was signed. As a result of the dialog, which is being established in accordance with the Memorandum, joint projects in the business sphere will be carried out more effectively and any arising problems will be worked out and solved in a prompt and efficient way. It was noted that the greatest opportunities for cooperation have been developed in aerospace, telecommunications, electricity, mining and the transportation of oil.

On November 11, 2010 E. Nabiullina participated in the plenary meeting of foreign ministers and trade ministers of APEC.

The meeting discussed issues with regard to strengthening the multilateral trading system. A discussion of the basic directions of regional economic integration was held, including the discussion of the Asia-Pacific free trade zone formation; also the report on the review of the first phase of APEC's work on implementing the Bogor Goals was approved and the draft Strategy for Economic Growth was finalized and it now ready for approval by the leaders of APEC economies. The ministers discussed the main results of the 2010 work programs of APEC that attempt to combat terrorism, improve food security, fight corruption and improve emergency preparedness. Following the meeting a joint statement of foreign ministers and trade ministers of APEC was adopted.

On November 11, 2010 a number of bilateral meetings between Minister E. Nabiullina and trade ministers of APEC were held.

 E. Nabiullina met with Craig Emerson, the Minister of Trade of Australia. They discussed the state of the bilateral economic and trade relations and their prospects, as well as a number of the remaining issues in the negotiations on Russia's accession to the WTO and, first and foremost, agricultural issues.

At the meeting between E. Nabiullina and Peter Van Loan, the Minister of International Trade of Canada, the sides noted the positive dynamics of the flow of Canadian investment into Russia, and the interest from the Russian side in obtaining specific proposals from Canadian companies on the proposed list of projects, and discussed issues relating to the level of support for agriculture and the import regime for meat in the context of accession to the WTO. The Canadian side was informed in detail about the possibilities of participating in the Skolkovo project.

At the talks between E. Nabiullina and U.S. Commerce Secretary Gary Locke, as part of the meeting of the co-chairs of the Working Group on the Development of Business Ties and Trade and Economic Relations of the Russian-American Presidential Commission, issues relating to the current state of bilateral trade and economic relations, the further development of mutual trade and investment and plans for the Working Group were considered.

In the framework of the Action Plan of the Working Group for 2010, E. Nabiullina and G. Locke signed a Memorandum between the Government of the Russian Federation and the United States of America on cooperation in the field of management training, which will enable managers and specialists of Russian and American organizations to share best management practices and internships at leading industrial, commercial, innovative enterprises, service organizations and other organizations in Russia and the U.S. in the near future.

Cooperation within the framework of the Memorandum will serve the purpose of the Program of the Management Training for the national economy of the Russian Federation. The most promising areas of training for Russian specialists in the United States could be as follows: energy efficiency, strategic computer technology, medical technology and pharmaceuticals and aerospace and telecommunications.

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