Medvedev shares insights on global infrastructure
Russia Federation Prime Minister Dmitry Medvedev shared his insights on the role of local and global infrastructures in the global economy in his keynote speech at the ASEAN Business and Investment Summit 2017 proper on November 13, Monday.
Photo from Sputnik News
Medvedev explained how the developments of infrastructures are currently shaping the world’s future. In his opinion, development reflected the singularity of the present; where the future global economy is being shaped into an economy of more ideas, new declaratives and new materials that will require a new global infrastructure in new settlement mechanisms.
He talked about the prospects for cooperation in the field of infrastructure by taking into account the huge territory of Russia in the development of infrastructure and that it is of paramount importance for them.
“We are ready to allow access to our infrastructure capacities to all ASEAN members. Not only airports, but also sea terminals, railway network, roads, pipelines and high-speed communication lines can be used by ASEAN nations,” Medvedev explained.
Medvedev also stated that Russian Railways (RZD) was already participating in the implementation of a major project to create an integrated infrastructure on the island of Kalimantan (Indonesia), and the Singapore Company Changi Airports is already investing in the development of an air hub in Vladivostok.
“Despite the very speedy development of e-commerce, economic sanctions become a tool for competitive fight and the countries of the Asia-Pacific Region face very specific challenge; many are sources of the economic rows and have recently been used to produce the same amount of results,” he said.
According to Medvedev, Russia’s national economy has been improving to some extent. With a slight change in the coming development and overcoming the overdependence of the economy on its export of raw materials, this year, they are witnessing their economic growth as it is believed to surpass 2 percent.
He also discussed the essence of Russia’s economic policy, enumerating that they have conducted an anti-crisis targeted support, and maintained protective measures with the floating exchange rate and deflation targeting.
“We rigorously control the budget deficit in order to ensure equilibrium of the budget’s system, while the prices for oil are relatively low and these prices are important for our economy,” he said.
“Of course, we try to improve business and investment environment, structural disbalances have been eradicated, the gained competitive advantages on our domestic market; now, we witness trade-cash surplus, and the attendances to grow our international economic reserves,” he added.
The Russian-ASEAN trade turnover reached $13.6 billion in 2016 and the figure has increased by some 33 percent this year, according to Medvedev.
The 31st ASEAN summit and related meetings are being held on November 10-15 in the Philippines. Leaders from the 10 ASEAN member nations and dialogue partners, including Australia, Canada, China, the European Union, India, Japan, New Zealand, Russia, South Korea and the United States, are attending the event.
The event was held at the Grand Ballroom of Solaire Resort and Casino in Parañaque City, and will continue until November 14, Tuesday.
