July 18, 2024, 10:46 am


Int'l Correspondent

Published:
2023-11-19 22:50:26 BdST

Russia Presents Initiatives to Develop Transport Corridors at APEC Summit


At the Asia-Pacific Economic Cooperation (APEC) summit, Russia presented its initiatives to develop transport corridors, Deputy Prime Minister Alexei Overchuk, who led the Russian delegation, said.

"We stressed the importance of maintaining uninterrupted supply chains. And we also presented to economic leaders our initiatives in the area of connectivity, as well as investment and development, building and improving our railroad infrastructure," Overchuk told reporters.

He noted modernization and improvement of the route in the eastern part of Russia, which will be able to maintain flows of goods from the Asia-Pacific region to the West.

New Era of Investment, Economic Growth and Free Trade

The heads of delegations to the Asia-Pacific Economic Cooperation (APEC) summit called for a new era of investment, economic growth and energy access in the region, according to the leaders' final declaration following the summit.

"We endeavor to unleash a new era of decent jobs, investment, economic growth, and ensure energy, security, resilience, and access in the region," the document, obtained by Sputnik, says.
According to the declaration, efforts should continue in an accelerated manner.

"We recall our commitment to rationalize and phase out inefficient fossil fuel subsidies that encourage wasteful consumption, while recognizing the importance of providing those in need with essential energy services. To reach this goal, we will continue our efforts in an accelerated manner," the document says.

APEC is a trade and economic forum of 21 countries in the Asia-Pacific region. This year's summit in San Francisco, California, was held November 11–17.

The heads of delegations at the Asia-Pacific Economic Cooperation (APEC) summit supported a free, open, fair and predictable trade and investment environment, according to the final declaration by the APEC leaders, obtained by Sputnik.

"We reaffirm our determination to deliver a free, open, fair, non-discriminatory, transparent, inclusive, and predictable trade and investment environment," according to the document adopted following the APEC summit.

APEC is a trade and economic forum of 21 countries in the Asia-Pacific region. This year's summit in San Francisco, California, was held November 11–17.

Unauthorized use or reproduction of The Finance Today content for commercial purposes is strictly prohibited.


Popular Article from International