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Russia might handle 10-15% of cargo turnover between Asia and Europe

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HONG KONG, June 14 (RIA Novosti) - Russia is able to handle 10-15% of cargo turnover between Asia and Europe, Khabarovsk Region Governor Viktor Ishayev said on Tuesday during a session of the Pacific Economic Cooperation Council (PECC) in Hong Kong.

"According to the IMF, the Asia-Europe goods turnover totals $600 billion a year," Ishayev said.

"Russia can handle from 10% to 15% of that," he stressed.

According to Ishayev, the Trans-Siberian Railroad offers competitive terms to major Asian and European companies.

"Say, transporting a 20-foot container from the South Korean port city of Pusan to Europe takes 30-40 days and costs $1,250, while hauling it via the Trans-Siberian Railroad would take only 18-19 days at a cost of only 1,050," Ishayev said.

The governor of the Khabarovsk Region holds that Russia has not faced the Asia-Pacific region, as it should.

"Russia is not a purely European state, all the more so that European markets are not vacant and competition on them is rather stiff," he told RIA Novosti.

It is difficult for Russian provinces to cooperate with industrialized nations where economic growth rates are low, while cooperation with developing Asian countries with their high economic growth rates is far more promising.

"The Russian Far East and Siberia have to focus on Asia in geographic terms. Promoting trade with the Asia-Pacific region will give a great impetus to the Russian Far East and Siberia, which would step up the state's capitalization and increase the GDP," Ishayev opined.

In the governor's opinion, the Khabarovsk Region in Russia's Far East is the case in point when proving that the furthering of cooperation with the Asia-Pacific countries pays.

"The Khabarovsk Region investment growth rate is twice as much as that throughout Russia on average, with major investors being Asia-Pacific countries, e.g. South Korea, Japan, the United States and China," Ishayev said.

The Russian delegation to PECC proved to be the largest one, with over 30 major Far Eastern and Siberian companies coming to Hong Kong.

Viktor Ishayev is president of the Russian National Committee for Pacific Economic Cooperation. The committee has been a full-fledged member of PECC since 1994.

Established in 1967, PECC is an international non-governmental organization uniting business people from Asia-Pacific countries. PECC sees its ultimate goal as "creating a businesslike climate favorable to promoting trade and investment in the Asia-Pacific region", PECC's organizational committee said.

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