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Higher transit from Asia to EU via RF to bring USD 50 bln to RF

November 14, 2011, 3:34 UTC+3
Russia needs easier rules of customs clearing that takes too much time frequently. Russia should harmonize the customs clearing rules with those in other APEC states
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HONOLULU (Hawaii), November 14 (Itar-Tass) —— A higher transit from Asia to Europe via Russia will bring no less than 50 billion dollars annually to Russian economy, Summa Group Chairman Ziyavudin Magomedov, who co-chairs the APEC Business Advisory Council, said at a meeting with the APEC leaders. He estimated that Russia needs to account for at least ten percent of world transit to gain this target revenue.

Russia should broaden the railway approaches to the ports that will make the throughput capacity of the whole Russian transport system higher and will make this transit attractable for foreign companies, Magomedov noted.

Russia also needs easier rules of customs clearing that takes too much time frequently. Russia should also harmonize the customs clearing rules with those in other APEC states. Meanwhile, Russia needs an electronic paper work in all border crossing procedures to bring down the costs.

“According to the survey of the Marshall School of Business at the University of Southern California, Russia is ranked at the last place for the development level of transportation and logistic procedures among the APEC states, whereas Singapore is leading this list,” the Russian business captain said. “If the developed countries spend about 617 US dollars on average for the transportation of one container, the developing countries spend more than 1,000 US dollars for the purpose,” he stressed.

The APEC Business Advisory Council is a long-standing body of the Asia-Pacific Economic Cooperation (APEC) forum. Each APEC economy has three business captains in the council.

The APEC Business Advisory Council is seeking to promote initiatives to provide favourable conditions for the trade, investments and cooperation in the full scope of industries in the APEC states. The Council holds four annual meetings with the final one usually held on the eve of the APEC summit. The members of the APEC Business Advisory Council present their report to the APEC leaders at the APEC summit.

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