Foreign investors show interest in agricultural projects in Crimea

Foreign investors are increasingly interested in potential of the agricultural sector of the republic of Crimea, Russian Deputy Minister of Industry and Trade Alexey Gruzdev told TASS.

Gruzdev is the Commissioner General of Russian participation in the International Horticultural Exhibition EXPO-2019.

“At all levels, we are marking the growing interest of foreign investors. We will welcome the participation of Chinese companies in projects in the Republic of Crimea,” he said.

“Thanks to its environmental conditions and active development of infrastructure this region is of great interest for investment projects, in particular in agriculture. The Yalta International Economic Forum, which was held recently, reaffirmed this,” he added.

According to the Deputy Minister, Crimea has a huge potential as a “unique international tourist center with wide recreational opportunities, fantastic nature and ancient historical monuments.”

Eurasian Economic Union may sign agreement on free trade zone with Serbia in October

The agreement of the Eurasian Economic Union (EAEU) on a free trade zone with Serbia is due to be signed in October 2019, member of the Board of the Eurasian Economic Commission Veronika Nikishina said at the international conference “From Idea to Reality: 25th Anniversary of Nursultan Nazarbayev’s Eurasian Initiative,” that is being held in the city of Nur-Sultan on Thursday.

“This year we ended negotiations with Serbia and are now launching the procedure for the signing of this agreement. We hope to sign it in October,” Nikishina said.

She noted that “just a step separates” the EAEU from “the end of negotiations with Singapore on a free trade zone.” “If we evince patience and will aimed at achieving results – we also want to sign this agreement this year,” the member of the Board of the Eurasian Economic Commission explained.

The conference gathered about 300 people, including management representatives for the Eurasian Economic Commission, the parliaments and the Russian and Kazakhstani foreign ministries.

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.