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Minister Elvira Nabiullina Attends the Meeting of APEC Ministers of Foreign Affairs and Trade

14.11.11

On November 11, 2011, the Minister Elvira Nabiullina attended the Meeting of APEC Ministers of Foreign Affairs and Trade held in Honolulu (United States, Hawaii).

The key issues on the agenda of the final Ministerial meeting in the year of US chairmanship included both the APEC’s traditional issues such as support for multilateral trading system and regional economic integration, and the issues of green growth and cooperation in the regulatory field.

In her opening statement on multilateral trading system, Elvira Nabiullina thanked all member economies for the provided support in recent negotiations of Russia on the accession to the WTO. The Minister noted that the WTO accession would be a new positive sign for future development of the organization and international trading system.

Discussion of the regional economic integration problem was primarily focused on the problems of the next generation of trade and investment issues, in particular, participation of small and medium enterprises in global supply chains as well as development of innovation policy. Elvira Nabiullina supported the results achieved in the course of discussions on these issues by noting that “we’ll continue working in this direction in 2012 by paying special attention to policy in the field of innovations”.

Within deliberations on the green growth problems, the final documents have become a subject of wide discussions, in particular, a declaration on environmental goods and services. The Russian party emphasized the need for a balanced and consistent approach that takes into account national interests of all economies and attempts to find solutions by consensus.

As to cooperation in the regulatory field, Elvira Nabiullina noted the benefits of the regulatory standards convergence for international trade, as technical barriers to trade are eliminated thereby. The Russian party also supported the results of work in this field and approved the applied common action plan for the APEC on cooperation in the regulatory field.

The Minister Nabiullina held bilateral consultations within the framework of the Meeting of the APEC Ministers of Foreign Affairs and Trade.

Prospects of cooperation within the framework of the working group were discussed at the meeting with the U.S. Secretary of Commerce John Bryson to develop business relations of the U.S.-Russia Presidential Commission.

In the course of negotiations with the Singaporean Minister of Trade and Industry Lim Hng Kiang, activization of economic and trade cooperation between the two countries and support of projects for joint development of special economic zones were in the focus of attention.

The Indonesian Minister of Trade Gita Irawan Wirjawan voiced support for development of bilateral cooperation in the form of Russian-Indonesian joint dialogue on investment, trade and economic issues, and the Ministers held the first meeting thereon within the frameworks of the APEC Leaders’ Week.

The key topic of discussion at the meeting with the New Zealand Minister of Trade Tim Groser was the ongoing negotiations on a free trade zone between Russia and New Zealand.

Elvira Nabiullina and the Australian Minister of Trade Craig Emerson discussed issues of trade and economic cooperation in the context of the forthcoming accession of Russia to the WTO.

The meeting with the Japanese Minister of Economy, Trade and Industry Yukio Edano resulted in signing a memorandum of cooperation between the RF Ministry of Economic Development and the Japanese Ministry of Economy, Trade and Industry in the field of economic modernization.

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