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Russia hopes for EAC help in setting up IFC in Moscow

November 19, 2011, 15:20 UTC+3

“Instability of world financial markets prods the need for stepping up cooperation with the EAC in this sphere,” the minister stressed

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BALI ISLAND, Indonesia, November 19 (Itar-Tass) — Russia hopes for assistance from the East Asian Community (EAC) in forming an international financial centre in Moscow as well as for support of the Russian application to enter the Asian Development Bank, said on Saturday Russian Foreign Minister Sergei Lavrov, speaking at the EAC summit.

“Instability of world financial markets prods the need for stepping up cooperation with the EAC in this sphere,” the minister stressed. Regional financial cooperation is an effective anti-crisis means. In this connection, we hope for assistance in turning Moscow into a new financial centre”. “We also hope for support by EAC members of the Russian application to join the Asian Development Bank,” Lavrov added.

He noted that Moscow is ready to cooperation with EAC memembers in responding to emergencies, in the sphere of education, public health and in high technologies.

“East Asia was subjected to destructive natural and industrial disasters over the past few years,” the Russian minister said. “Therefore, topicality of regional cooperation in overcoming aftermaths of emergency situations evokes no doubt. Russia can make a considerable contribution in this cooperation.”

“No less important is also cooperation in the EAC framework in public health,” he continued. “We suggest making an accent on sharing information and experience in struggle against epidemics.”

“Russia is ready to join cooperation in the sphere of education, involving for this purpose, for instance, the potential of the recently set-up Far Eastern Federal University in Vladivostok,” Lavrov noted. “This higher educational establishment will stand abreast of the best Russian universities – Moscow, St. Petersburg and Kazan.”

“Besides, Russia is open for cooperation in the sphere of high technologies,” the minister underlined. These are the use of peaceful atom, domestication of outer space, the use of global navigation and telecom systems as well as development of advanced medical equipment and medicines.”

“The Russian centre of innovation technologies – Skolkovo could be one of grounds for establishing cooperation within the EAC in this sphere,” he said.

The EAC now unites 10 ASEAN countries as well as Australia, India, China, New Zealand, South Korea, the Russian Federation, the US and Japan. The cooperation mechanism of Community countries was set up in 2005 at the initiative of ASEAN to consolidate peace, stability and economic prosperity in the Asia-Pacific region.

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