Singapore hopes for boosting economic ties with Russia.

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27/9 Tass 151

SINGAPORE, September 27 (Itar-Tass) - Singapore has expressed the hope
for boosting economic relations with Russia, Senior Minister Goh Chok Tong
said in his opening remarks to the Russian-Singaporean business forum on
Monday.
"Russia and Singapore have very good relations and we are confident
that they will continue to move along the ascending trend," he said.
"Today we plan to hold open and sincere discussions," he said. "Among
important issues on the agenda is possible conclusion of an agreement on
double taxation avoidance. Amid the global economic crisis Asia became the
main engine of global growth. Singapore can become for Russia a gateway to
the Asian markets."
"Singapore obtains considerable infrastructure for developing business
and diversified resources. For world companies it is easier to understand
the region's demands here," Goh Chok Tong said.
Russian Vice-Premier Sergei Sobyanin noted that "the forum brought
together over 300 business people from Russia, which demonstrates the
growing attention to Singapore."
"To develop business it is necessary to cooperate at the interstate
level and it is very pleasant to note that Russia and Singapore build
their relations being guided by the principles of partnership logic," he
said.
In 2009 the two countries' trade increased by 22 percent and over the
seven months of this year - by 43 percent. "This proves that the potential
of our countries' economies is great. Our task is to develop it," Sobyanin
said.
"Russia and Singapore cooperate in many areas, including economy,
innovations and education. Singapore provides consulting services to
Russian partners on the creation of special economic zones and electronic
government systems," he said.
On Monday, the two countries signed an agreement on creating a
high-level intergovernmental commission and an agreement on encouragement
and protection of mutual investments.
On the first day of the forum's work Russia and Singapore will select
the ministries that will develop a roadmap for cooperation until 2014.
"Russian businesses become more focused on the East and the countries
of the Asia-Pacific Region. Among major projects are the launch of the
Eastern Siberia-Pacific Ocean pipeline and the construction of the
Vostochny spaceport in Russia's Far East," Sobyanin said.
"We plan to closely cooperate with Singapore and hope for its
involvement in investment projects, including privatization of state
companies," he said.
By the end of 2010 Russia's GDP growth is expected to reach 4.4
percent. "We are actively pursuing the policy aimed at improving the
investment climate in Russia," Sobyanin said.
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