Venezuela inks eleven strategic agreements with Russia

Venezuela and Russia have signed several strategic agreements in the oil and finance sectors, in trade and other fields during the work of the intergovernmental commission, Venezuelan Vice President for Planning Ricardo Menendez wrote on Twitter on Friday.

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Hong Kong to open trade and economic office in Moscow

Hong Kong plans to open its trade and economic office in Moscow. Chief Executive of the Hong Kong Special Administrative Region Carrie Lam made such a statement during the meeting with Russian Foreign Minister Sergey Lavrov, press service of the local government said.

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Russia ready for conducting trade with Belarus in rubles, says Kremlin spokesman

Russian Presidential Spokesman Dmitry Peskov has refuted the statement made by Belarusian President Alexander Lukashenko that Moscow rejected Minsk’s proposal to conduct trade in Russian rubles.

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Asian businesses start outpacing Europe on Eurasian Economic Union markets, official says

The European Union is no longer a key trade partner in export and import with the Eurasian Economic Union, and Asian countries have outshined it, Assistant Minister in charge of Integration and Macroeconomics of the Eurasian Economic Commission (EEC) Fedor Chernitsyn said.

“The anti-Russian sanctions have been affecting [trade relations]. According to our estimates, since introducing sanctions the European Union has lost nearly $300 bln. Since 2016, we have seen a tendency that if earlier the EU was our number one trade partner in terms of export and import, now Asian countries hold the top spot,” the official told the annual conference on the development of business contacts with EAEU at the Russian Cultural Center in Washington.

“We buy and import from Asia more than from Europe. This can be called a principal and historic consequence of sanctions that Asian business are replacing Europeans on our markets,” Chernitsyn said.

“We are a union of five, but four out of five countries have not been targeted by the EU sanctions. For us as a union this is a great challenge and a problem and it is difficult to correlate the sanctions regime between Russia and the EU with the common market’s regime. We have been doing a big job in this direction so that partners do not suffer from these restrictions,” the official said.

“Interest in cooperation with the union has been only growing. Chinese, Singapore and South Korean businesses are eagerly filling those niches emerging on our market,” Chernitsyn noted.

Speaking on if any country from the Commonwealth of Independent States has applied for joining the EAEU, he said: “We are open and always wait for our next-door neighbors. We don’t have such a task in the union to pursue propaganda, promote or encourage anyone for close integration with us. We don’t have such a task on our agenda, that’s why we are not doing this,” he stated.

The Eurasian Economic Union is an international integration economic organization, which brings together Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan.

Serbian and Russian deputy premiers discuss cooperation in energy, industry

The co-chairs of the Russian-Serbian intergovernmental committee on trade, economic and scientific cooperation met in Belgrade on Wednesday to discuss the potential of bilateral cooperation in the energy sector, industry and transport, the Serbian Foreign Ministry said.

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Luxembourg and Russia decide to create investment fund for developing green technologies

Russia and Luxembourg decided to create an investment fund to finance the development of environmentally friendly technologies in Russia, Deputy Prime Minister of Luxembourg Etienne Schneider said in an interview with TASS, commenting on the results of the visit of Russian Prime Minister Dmitry Medvedev on March 5-6.

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China plans to cooperate with Russia in internet trade, space and aircraft industry

China’s authorities intend to develop cooperation with Russia in the sphere of internet trade, space and aircraft industry to double the volume of bilateral trade, increasing it to $200 billion, Premier of the People’s Republic of China Li Keqiang told TASS at a news conference on Friday.

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Lavrov to take part in Russian-Turkish strategic planning group meeting March 13

Russian Foreign Minister Sergey Lavrov will take part in a meeting of the Russian-Turkish Strategic Planning Group in Antalya on March 13, Russian Foreign Ministry Spokeswoman Maria Zakharova told reporters at a press briefing on Thursday.

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