i don't believe under god at all. i. president putin arrives in the japanese city of osaka where the world leaders are gathering for the g. 20 summit. the 20 the russian president gives his views on trade wars the military escalation in the persian gulf and global threats and the interview with the financial times. so what's the music about to put it bluntly the situation is definitely become more dramatic and explosive in the sense the world has become more fragmented and less predictable which is the most important regrettable thing . the u.n. special report on torture defends wiki leaks founder julian assange calling him a victim of a relentless smear campaign. the latest on these stories and

a lot of updates from the g 20 meeting had to r.t. dot com coming up the russian finance minister is a guest on sophie and co talking about western sanctions and butchers and trying. to come to so i'm certainly shevardnadze what global economy is speaking the language of sanctions restrictions trade wars world leaders are seeking a common ground at the g 20 summit. showed a breakthrough expected while i ask for his deputy prime minister and finance minister of russia. the process of integrating the world's economies is stalling a trade war is looming between china and the usa western countries are holding up sanctions on russia but in the us. it's fear of distrust is there still room for

a global trade come back what needs to be changing the system to prevent the global community apart and will change with. the every nation's economy. one of hello welcome hello we're always happy to have you on our program last time around injuries here was about a year and a half ago and no fundamental shift seemed to have happened since then but still the world has changed it's not the same. password and we hear it everywhere from town almost to see international forum. you i mean economists to find. common is becoming more terror actions and yes we see you know happening this is what it was a sion brink's 10 years ago everyone said that globalization would try to. be united as one common economic states but actually the opposite happened people start pushing away from each other. cutting it will not off why do you think it's

one way. or your problems to globalization and the push for a barrier free economic world which drives competition and a more liberal trade. good truly free competition but that any restrictions stimulates output growth and boosts global economic growth. diggle allies ation is about protecting your production capacities your manufacturers your companies she's got so the logic goes good i'll make my companies competitive and my fellow citizens lives will improve. in the end the results will be just the opposite it's only a matter of time it's just impossible. we were building a free economy between the free movement of goods capital and labor force and now

suddenly barry is a put up the trade barriers i mean at 1st glance this kind of policy could bring benefits but then you will lose your competitive edge and will have to pay a higher price for imported goods you know that's would be brought in anyway the imports would just cost more in such an isolationist country. there will be of the storm the north what though. everyone is unhappy about the existing walk trade regulations and there are a lot of disagreements that it seems that everyone is calling for the government to yoga reform there's a think as long as the devil is here rules in someone's favor they're fine with it when it rolls in favor of their opponent or competitor they're no longer friends with it so reforming the devil seems to me a big and realistic after all you can have an organization that everyone's happy with can you have it that's what the us really wasn't sad well we'll just play by

our rules because we're not ok with this who don't really think. we have a last author who thrive. no. that's because the constantly put him in a very beautiful groove yes there are calls to reform the w.t. oh. first as an organization the w. cio was established by a group of countries but the decided to remove trade barriers 2nd the conditions for exporting goods to other markets should be predictable and understandable for the actors involved. and what do we have now. under the pretext of national security of countries simply ignore the w t o. there is in fact a provision that if a country feels that there is a national security threats they can choose to stray from the w t o principles is

a person now some countries are taking advantage of that the us for example sees all these regulations mainly as a national security threat. when the w.c.l. was founded just the spirits and the environment were different. today that everyone is leaning towards protectionism safeguarding their own interests that may start with one country and then you have a group of countries or an alliance. that could be just one country with a large market that would say well if these states are pursuing an isolationist policy so we lying and so on. that's not good for the global economy. biggest.

news story the trade war us and china and everyone's going crazy. and we're going to plant trees. fail to reach an agreement they definitely want to cut all ties or impose mutual sanctions because it would be their own so we can rule that out with their one the 2 separate economic zones and will one also friend of his who wish to trade with ours that's not the end of the world there's a reason you can use your own. no of course it's not the end of the world then the but trade will be down capital flows will slow down including investment and there will be less demand for some goods. including russian exports you know shrinking exports will obviously a think russia's economy and drag down with our growth but the

workers are russia the sponsor of the global economy so of course when 2 leading economies in the world have disagreements it definitely has an impact on other economies and leads to a decline in economic activity around the world that's for sure. here's where we can look for american rembrandt's president what's russia's place in all of this and he very diplomatically replied with a metaphor for russia was a cover monkey looking at this fight from the sidelines to see who wins this club or monkey keeps waiting until the point we're turning to generally in conflict and watching from the sidelines that no longer be an option russia would have to make it yours with the with. what will it choose to do. with you

we will act single line with our interests like any other country i magine of this and our interests are as follows which institution 1st we need to create an environment that would mitigate the effects any trade wars or storms or economic issues around the world have and russia. so we need to make sure we can rely on our own capacity if you wish that were the 2nd one. because when we see that sanctions or restrictions are imposed on certain commodities we should try to come up with proposals of our own offering our products to the countries which you suffer from a less favorable trade climate. i think we need to cultivate closer ties with our chinese partners and that's exactly what we're doing.

trade between russia and china is growing last year it reached $108000000000.00 u.s. dollars an hour goal is to take it up to $200000000000.00 it has nothing to do with any restrictions or the trade war between the u.s. and china that's because we need to promote our goods trade wars or no trade wars. there is this catchphrase now that china is are key economic partner but i think you are sure that we do not have jim we would have trade with jack i mean i agree about 100000000000 it's a lot of money but what we do simply wrong materials well china exports consumer products and china's economy is way more diversified than ours who tell me why our timber and their resources so that is all well and gas and they don't really want

to imprint thing else. all the money china. russia accounts for only 2 percent which is very little worries that close economic cooperation to china everyone is talking about i mean the feeling i get is that we are nothing one rule material colony china and yet the question is 2 plus 3 say workers are. missing should look. at that it's not an entirely accurate depiction of the situation evan though you're absolutely right about the trade structure. the good news is if we have agreed with our chinese partners to ramp up operate in investments man chinese businessmen showed genuine interest in russian projects or infrastructure and industries this year. and there is also the belts and road initiative. which is not to mention our cooperation in energy from nuclear power plant

construction. now i'm strides. defense and others but you know this cooperation yields competitive top quality high to goods and services. and that is exactly the kind of cooperation week specs from our partners are also following the restrictions imposed on chinese hard to come to. knees such as norway we often are icy products to china man suggested developing 5 g. networks to give a. way invited china to take a closer look at what russia has to offer and our chinese partners agreed with. i think we have laid a very good groundwork for cooperation with china. natural resources

by far not the only area. with these all the areas we've focused. on with china. for them some account without so when we rattle continue talking to london someone those precious 1st deputy prime minister and finance minister. the answer to every single the economic problem every single number and every single statistic every single market reactions to lower rates that's the old it's like an alcoholic drinks when they're happy they drink when they're sad they drink

because it's tuesday they drink because it's daytime they drink because they're not beholding they just drink drink drink drop how the rates whether the economy is expanding whether it's blue for president it doesn't matter is the dog bit his wife is going to lower rates makes no difference that's the only thing they did. and we're back with 12 months and run those questions 1st up of the prime minister and minister of finance. probably remember we had an interview with lou right after . what happens inside actions it has russia some one a half years ago and then the general attitude was like yes that's that will manage

the sanctions will only help us mobilize there are cells keep us on our toes so everything's going to be great and today government officials and large businesses keep up the same narrative and believe me i am an extremely optimistic person i always keep a positive attitude to its people and i happen to live but i generally try to find the private side of every party but here i honestly can't see any silver lining and people who i know personally don't see anything in where we are right now there is no reason to think we have become stronger you are hearing i get is that there is stagnation do you really think there are still opportunities we can tap into smartly going. to change being one and a half or even 2 years since we met last time and indeed we hoped that the sanctions rhetoric would have subsided but it's all different now. to die

we no longer expect sanctions to be eased or lifted. as i said already 1st and foremost we need to rely only on ourselves. to ask for your feeling of stagnation i can't really agree with you. we have adopted a completely different strategy. we have outlined the so-called national development goals and so forth a number of national projects as we've completely changed all governance. in addition to that we have embarked on a number of critical projects. we didn't have proper infrastructure so we set up programs and allocated firms to develop. and digital infrastructure. bits and this is what we really need to try to boost economic growth. the

visa are the reasons why i cannot agree with you that growth has stalled. quite on the contrary things are moving very fast with the white people see them. again. not doing think you're right saying people can see that. first this year we've made a number of improvements in health care that now people are provided with a wide range of services and and their quality has also gone up. second. we have started investing in most heavily in transport infrastructure because of. as i know only 6 months since the beginning of the year and probably in some places the changes are not yet visible but really do invest a lot of good with this year we will be allocating want to point 7 trillion roubles

for national projects while the overall state budgets and i was 18 to 19 trillion. 10 percent of all the money that will be spent on national projects the story you will see the changes people will certainly notice the improvements in all these areas we have focused on is not the same excel the national projects should be implemented by that year 2024 so i do realize that if implementing this national process will improve the quality of life of russian citizens there will have greatly. been hoped for but every time. there is enough money we have the standard answer which is yes what i don't quite understand who are paying for his national projects who are super and will it be the government tax payers or private

capital. government is certainly the main driving force. but we will also tracked private funds was considered the overall the 6 year budget for national projects. 25.7 trillion rubles. 13 trillion per will come from the state budget both at the federal and regional levels. to move their arrest dreams to be covered by private capital. by different farms and foundations including government funds the worst of times when the serve both the governments and businesses will be contributing to this you've just been ordered to motivate businesses to invest in new projects we're working hard to provide a better business climate through from as we said russia is now under pressure

internationally what can we do to alleviate this pressure we can offer more favorable conditions to domestic investors. one example is the so-called regulatory scene that has to come into force in 2021 years and will help get rid of outdated business regulations away from. the intervention overseas and masters are still strong interest in aggression because it is actually profitable market and they are interested they're not securing our sanctions or direct hate you know what i mean grounds are predictability of the courts and excessive and moment of the worst legions moore's. lack of stability cancerous has already been discussed at length and i would like to refer to the impact that this has made on the overall environment the problem is how the court.

to how the law was used in dealing with one of our major foreign investors that is not even one hand of interest and the only other there is profound lack of trust there will understand how risk assessment works now the question what exactly we really don't really want to believe the concern. is the procedure investors are. i mean by that. predictability one certainty much more than about international sanctions. so let's just do the oil agree that investors do have such concerns your socialist and then i do agree with you that our laws and regulations should perhaps be made more predictable. and let's say more investor friendly. during the recent q.

and a session with president putin someone said for that's our inspection authorities need to change their optics machine it can be used when they come and inspect companies all they do so far is point out violations for the issue fines and collect any tax serious road is that they need to have a different approach to what they're doing michoud rather be helping businesses for instance by pointing out risks suggesting what needs to be improved. their mission must change. somewhere and i think that's what the business community expects from us but it's not so much about predictability because you know more sensitive it's about a change in the attitudes of the authorities to wards businesses. the country if we stop there leaving anything specific to. at the recognizes it including the

president and when talks about making things people friends at one of your stand it's that it's a real problem but. whether he thinks there well we're working on a bill requiring or completed soon our lives usually takes a year or 2 you can we afford you know the year or 2 just talking about the changes well investors still stunned at 1st not messing with russia let's look at the federal tax service or the federal customs service. both services have dramatically changed the way they handle tax payers would this change required about 5 years for the customs service and even less just 3 years for the tax service. here's another point of the you know the number of court trials on tax cases has dropped significantly. because the tax

agency now use the so-called pretrial release a geisha. was rather than going to court which is a lengthy and costly process tax inspectors settle their issues with companies by referring them to a supervisory checks agency in and a lot of issues get resolved that level. i believe that all the supervisory authorities should adjust and rethink the way they operate. when i talk to my colleagues at the federal customs service on the tax service i tell them what they should do is warn assist and advise businesses in order to help them fix things in case of errors or violations we have to learn for instance because you know this is the key issue and someone who is in charge of the flying's is an

economy in this enormous country want to have an international investors out there whose. is the little question. we commission press the premier i believe it is necessary to send business people to jail straight away not necessarily for financial and economic crimes. well house arrest would suffice and steps like this would help creates a different business climate reasons here and help build trust. i gave your colleague. recently mentioned and presidential commission or his rights to do a redo with him for that 80 percent of the small and medium sized businesses in russia are afraid to do business because they don't trust him and fear the existing los angeles and system in the country with international sanctions in place that our economy is already under great pressure and the fact the economic growth in

russia has never been is that since the ninety's so small and medium sized businesses and its development is exactly what our country needs right now it could give our economy that push that it needs so badly good jumpstarted and yet when we have won her hands is the situation where the business is fear their own government why is it so that way can't we give this enterprises what they need to just do their jobs and fear free in their own countries. pushed the idea of doing things the fear of the law enforcement system and by the way the federal tax service is really soft on the danes spectacle less than one percent of the total number of small and medium sized enterprises in the country also this state runs a massive program in support of small and medium sized businesses but offers tax

cuts facilitates access to bank loans gives new education opportunities and introduces special tax regimes because and we all understand that without the private sector we won't have enough money for our budget which we won't get the chances that are needed to provide health care and education services for our people ultimately all the money is generated by interpreters. so what the government needs to do. to provide a comfortable environment for the private sector and that's exactly what our government's doing we'll talk about this new year's time when all of these reports we're talking about now and that you're seeing are being discussed again since beat in the family so we'll change the rules because that is what matters now this let's

talk about the g. 20 summit to be honest i mean such events like g 20 are quite formal and only real headlines except this chit chat about who put in this manner who try to shoot here and where there were serious decisions and. well i have to ask is that you know the current situation with lots of steam having the lead there is a lot of tension among the leaders themselves and many of them just want things to change anything there can be real at this summit. it's possible that there won't be any major breakthroughs but i do expect some changes following a number of bilateral meetings including the meeting between the presidents of russia and the united states. thank you very much for your time today you think you.

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