soon which brightened if you move from phones to. stunts on t.v. don't. hello and welcome to our karen tara with your top stories the outlook on the e.u.'s credit rating is switched to negative as the relentless rounds of euro zone meeting so far failed provides lucian's to the long lasting crisis that as the union's force member bulgaria shelves its plans to join a common currency. with hundreds of thousands of syrian refugees now displaced turkey says its camps are completely full and wants the u.n. to set up a proper zone this as united nations calls on the regime to allow aid into conflict

areas and save many thousands have lost their homes. and separatists making the running as academic and social problems dominate regional elections and counted as mainly french speaking come back the voting has just started and a pro independence party given while wins the province could face a referendum a break away from ottawa. up next we talked to the c.e.o. of asia pacific summit a now being hosted in russia to ask how ties with other economies can be strengthened that's an spotlight and that's coming up.

hello again the welcome to. new show. today. during this first week of september the russian far east has turned into one of the busiest places in the world. as business. have gathered apec leaders meeting. for russia. into the asia pacific region. to the far east and. so what do you put. out. the most important. will discuss it with the head of the russian directing.

me. that is hosting a forum where financial wizards will be discussing business development an investment it's. a great opportunity to boost money flow to its economy many economists say it's a time of global financial the country is doing great but like excessive bureaucracy and corruption. bad global investors. is working to change this. the russian market is better than many others now. mr reality is showing busy. hands vestment russia behind. hello kitty welcome to the show thank you very very much for coming because actually a lot well first of all i. before we start talking about the event itself about the

apec meeting well many economists. believe that the focus. of the world economy is steadily moving from the western region for western europe america the v. atlantic region to asia and to the pacific region do you do you do you agree with that yeah i think definitely this is the case and i think the summit and actually it's very critical that it's happening in russia is it a case or a trend i mean moving the moving i think it's a trend really and if you see china's gross if you see some of the efforts of the region in the eastern part of the world to integrate and to have internal grows you see a major shift happening because whereas before for example china was exporting most of the things into the united states now it has very robust very significant internal market and this is a case with many economists so definitely becoming a very big factor in what is happening in the world but if we keep in mind the

economic difficulties and we even call it an economic crisis that that happened in the west and many western countries have had still not recovered from this from this economic crisis is it true that the asian countries they look more reliable in terms of the economic cooperation than the usual western partners but is obviously really more reliable or is it just the comparison with the crisis beaten western economies well i think the wall to so interconnected right now is it's really difficult to separate because definitely the problems that we're seeing in europe slow growth we see in the united states definitely a fact of the. asian economists quite a bit. being set because they have some significant growth in population and such significant growth of internal markets they definitely have much higher and better growth tragic story than many of the western countries and growth is really the key issue right now because where to find growth is a big question in europe and the asian economy sexualize showing that we do have

grows and they have significant growth potential and that's very important well i know i want to get back to something you mentioned with my first question that it's the first time for russia to host the apec meeting well russia really is ousting the meeting for the first time we've been a member for quite a long time but now now we are the host country at this is it give russia any specific privileges any specific opportunities i mean the fact that we are the host of this event definitely i think most in terms of form is engender of the meeting and really focusing on grows as one of the key focus area for menials the countries and i think russia can really showcase far east regional frosh is something example of region where growth can happen where many investors can come in and vast and they will have quite a few projects of their reliable and can give good return on investment so i think for russia to be able to forms agenda to really introduce some new concepts and i

think one of the quantum will introduce is a concept of free investment because lots of people are talking about w two and free trade this a b. area i think even free investments in point of us once of course contraceptive very important next step in integration so we believe that as a son it will be very good for russia well if i'm not mistaken ninety ninety eight yes well what was the year when russia joined the commander of the exhibits nearly nearly fifteen years now so have there been any considerable well positive or negative results of this membership in the apec for russia if you can. eventually yeah i think for russia it gained the specific results will become even more from meeting because i was in the meeting back last year in honolulu and there were lots of discussions about free trade and i think russia joining w two organisation and getting awards of w two all. benefits is

a little bit the result of also some epic discussions on getting support from pecan trees but i think it was this meeting in russia will specifically give a chance to get very specific benefits and i think the benefits are better trade and better investments so the real test is whether there was in the next five or six years much more investment from a pecan trees will go into russia and that is a real test when you speak about that to trade i would i would put a different though say they versified train because because better trade for russia for ages has been better prices for oil and gas and oil and gas at least in the west have for ages been the main the main. well cash cow for russian economy or oil and gas exports do it in the east is it the same are hydrocarbons as important for russian trade in the east as they are in the west or is it a diversification this really is a key area and i recently talked to the governor of prewar your region which hosts

epic a meeting and we talked about tourism being a big factor a lot of stores plasters can be created in the region we talked about alternative energy and solar being very promising because some south pacific region is much more sun then in most of the khan parts of russia so i think the reciprocation israel is a key theme here and lots of investment in far east can go into infrastructure in the areas like that so i think the idea is not just trade better income what it is is a disease to really invest in infrastructure that allows other sectors such as forest production and logistics to. better gross are you are you serious i mean are you really realistic when you discussing with the governor of the primordial region which is the far east discussing tourism i mean tourism isn't a major major business having big business even in moscow st petersburg and saatchi

which will be the the capital of the few show that we can call it business if we compare it with tourism in france i mean like in england and so one so and you're speaking about the developing tourism in the far far east you'll eskimo's exactly what super deserves a beautiful epic meeting because as you see at because we're close to that area and for cheney's people it's actually fly to follow you around two hours to get to the region so we're as far as living in moscow it feels very very far away for many cheney's who are actually quite interested in tourist ideas in the region that it will make if the chinese fly to to to to to the russians what i was will they get something different tourism tourism well. i mean when you go somewhere as a tourist you what to get something new something different for from what you've got here i mean russia is like going to do to want to see this is why russians don't go to portugal little portugal is a wonderful country but russians want

a warm sea and i think it was a what the summit was shows of there are great hunting in great opportunities in the far east that are really quite unique and i things in nature is quite spectacular and many guests are looking forward to seems a beauteous or the region so i think having twenty countries come to the far east to really enjoy in see opportunities is there and the discussion about the tourist class is actual very specific because there are some changes in the story you willing to invest in that part of the world in that there was going to sort of a northern safari here. now i know russia russia. of course should have currency issues i mean i mean among the the the problem is that once the two so vince to strengthen its position on the eastern markets do you think that moscow can offer the apec partners some

some new opportunities to strengthen its position i think in those opportunities to go you know two ways so first of all lots of countries will benefit obviously from such things as us and the g and there are things a try sure is exporting not just or oil but also electricity is there are new ideas about being able to actually explored somes electricity to some say pick countries but also provide investment opportunities for capital to invest in because if you think about somebody it was quite a bit of money as they have a big problem now where those invest weapons to get a good true libel return on its investment and actually in markets that the penetrated that was there is much more growth opportunities in russia it provides some good investment opportunities also in markets that are really under priced and we believe russia has very low valuations right now so i think having some ability to give benefit to other countries and also welcome the investment is a way to introduce capital in benefit from epic native's is mostly ism is most of

our russian companies is the russian state itself investing into the far eastern economy or just once what once foreigners do i think you know as actually part of the attic trip or asians there was an investment of almost going to billion dollars going into the region in infrastructure in clinics in all sorts of you know utility in the roads in bridges so we believe that having a reliable infrastructure use one that was a necessary conditions for investors to benefit from so russian state is investing directly itself says he'll meet any of had of the russian doubt that the. vest the spotlight will be back shortly after whitfield stay with us with that at its.

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leaving the ice one or two. welcome back to the spotlight on a mountain i've been just a reminder that my guest on the show today is key to meet the event of the russian direct investment and we're talking about the apec summit that's going on in the russian far east this first week of september well speaking about russia's economy

russia's trade with the eastern countries and china of course is russia's biggest trade and economic point in the region but as far as i heard as far as i reveal what i'm reading in the press is that russia wants to diversify its circle of acquaintance well which countries are the top priority lists of this russia is that versification support is and is a pact the right place to search for these is well i think russia is actually focused on pretty much all of the a pick countries so it's very difficult to talk about priorities obviously china is so very important partner and we for example created the russia china financial is cheney's where there is going to be a two billion the national bussmann going up to four billion and it shows that a pic counters i invest in together actually in russia to benefit from the gross obviously such countess astray also interesting and they seem to be far but

actually some of the australian funds as the biggest investors in infrastructure and we are working quite heavily was mcquire fund that is doing some very exciting projects in in russia in countries like malaysia and some others japan obviously are in because pertaining to for russia because i think it is specifically relationship with japan and possible going vestments and you know working close it was japanese companies is the means agenda and they're all business some political hurdles that can be overcome but generally there is no doubt that russia can work closer was japan on by economic issues we talk about such as malaysia in those. i think that definitely they are only interesting partners for companies and structures based in the russian far east because if we look from moscow i mean the united states closer to australia so what think you trade with us really when we

have when you have lots of partners across the atlantic is it true you know are there enough regional structures that can trade trade with those to do big business with countries like australia doesn't i think you know again it's not just about trade ins about capital and those countries have lots of capital lots of expertise so obviously careers have big markets and careers to be compared to knitting but i think we have to think more not just about trade in goods but trade in the capital because capital is so much more important those days well in addition to the apec meeting even though the leader is there is a special form of businessmen taking part taking part at the same time is called the sea summit yes well are there any immediate results expected there are there any big deals coming up well again i think some of the bigger deals may be announced right there on your in the meeting i think nobody is going to say beforehand what they're going to be i think it's real it for him for key executives

to get together and actually think about some of the future deals he may be doing and there are some leading companies present there and it's very difficult to get all of this see yours in one room typically but a big meeting so very good to bring in really top level leaders into the same room so i think we may see some deals announced during the meeting but a lot of the benefits will be future deals that will be announced based on some of the discussions at the meeting you are the c.e.o. of the russian direct investment fund which was created to to support the high growth sectors of the russian economy what the world was the. all of the all of your fund on this apec summit well for us it's really in the potential to talk about many partners why thinking about investing in russia because when we talked about too many investors they said they really need to have a reliable partner in the market and a russian direct investment fund is one of such partners and will now with wife

three board we have heads of the solar and wealth fund of china korea kuwait we have leaders also at the private equity firm such as stephen schwarzman leon black david won their money so for us it's real in the preaching to me it was mania over the investors we've known before we need some new people and cards them to invest in russia with us. i've been talking to. this studio at this table with with investors people who are ready to invest into bush's economy and of them said an interesting phrase he said that the problem is that the investment climate in russia is even worse than the climate in siberia so now we're talking about investing it to say bierria and even further into the far east is the russian government doing something to improve well not the climate but the investment climate in those eastern regions there is a man if you can prove it there is

a major effort by the president of russia mr putin who announced that you know russia really needs to move from hundred twenty is place on these of doing business to twenty inches plays based on the world banking mix you know it's interesting as the actual world bank seems to be canceling this index is a phrase or try to show them was there much faster than they were thinking about but. if it took seriously issue we do see some improvements as it was a survey done by earth and yon's that showed that in october of last year only twenty four percent of the leading private equity funds wanted to invest in russia whereas and they pull of this year's it figures already forty eight percent so we see some improvements but definitely there is. a lot of words that needs to be done with minister for economic affairs is doing on the road maps to improve russian economy it's very critical because they basically take twenty two key sectors and asking themselves how can we make customs work more efficiently how can we make the construction business work more efficiently if you have permits so that kind of

very specific work in different industries is definitely going to bring results next year i've been to her about of squishes the russians far east of the major cities there and i've talked to chinese business and there are a lot of chinese businessmen she did the small there small businesses and they told me that what you've been talking about cross border possibilities the investment climate the leap the possibilities to start a start up business there are pretty bad for them and they were complaining is this is this choo choo you sent out to go because i'm sure that that what the president or the prime minister say in moscow. people even may not hear about it it is about risk i think again i could really good meeting with the governors of can more your region and his background is very unique actually around the university they're very successful in his and your governor and he is completely focused on bringing

investors well making conditions for business much easier and the fags around you health clinics and you infrastructure that has been created is definitely important factor but he also understands that there should be much easier permanence and investors need to be welcomed and that was not a culture or the part of russia for some time and i think that needs to be changed and the government is doing very active steps to change that during the last couple of years ago let's talk about big politics which always affects business last couple of years have been murdered by a major standoff between the united states and china both big parties russia and there have been a problem. in relations both political and economic relations of the two countries has this standoff affected russia's relations with china russian trade relations with china so well what's your impression well i think russia china trade this expected to grow very dramatically so the figures are you know it's going to grow

about five times in the next five to seven years so definitely there's a huge potential you know to benefit from growth of china and i think russia just is always focused on its own views and then on some issues you know it's has a closer position to china on some issues has a closer position to the u.s. but i think we have very much focused on bringing basters from both you know u.s. and china in kuwait and other places of the world and i think you know politics needs to play a role but right now investors are so much focused on gross that we can actually bring investors from different countries of the world not thinking too much about politics when you said that the russian trade with china in the growth five times in five years years you're talking about biological trade or you're talking about russia's trade to china whether to alter ego or to both i mean since it's so so so

is such a figure that will bring enormous national interest here we will lifetimes and we believe that that is why you know relation with china is very critical and very important because a lot of the benefit will actually be in the far east regional fresher and up with allows the region to get so much news investment well let's return to the a perk going to investment since the forum was established in nine hundred eighty nine one of its main goals has been to promote trade and to i quote to liberalize the investment climate in the asia pacific region so. you are considered to be one of the investment. in russia at least yes so what's your impression did apec really do a good job in liberalizing this which i think is a much more to be done i think it because john

a very good job in liberalizing trade and that was a big one a lot of but freedom of investment definitely needs to be improved and there are also lawyers still not all when russia many other places i think you know when investors go to many other countries even to the united states there are still lots of barriers for them to acquire companies and to make investments so far as i'm fortunate here in st petersburg to meet him and actually big point there during a big meeting during june twenty meeting in russia next year they seem awfully burleson investments is going to be key one and russia is going to push this agenda forward thank you thank you very much for being with us and just a reminder that my guest on the show today was healed we had of the russian direct investment who invites you to invest in the russian far east or at least invites you to safadi in the russian foreign minister thank you thank you for being with us and just reminded me if you. have your sense plotlines of where you have someone in

mind to think i should interview next time just drop me a spotlight will be back with more comments on what's going on in and outside russia until then stay on to take a closer look. science technology innovation all the latest developments from around russia we've got the future covered.