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Asia-Pacific markets offer vast opportunities for cooperation

April 12, 2014, 23:28 UTC+3 VLADIVOSTOK
China is offering vast opportunities for cooperation and may even consider buying Russian hydrocarbons for the yuan
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© ITAR-TASS

VLADIVOSTOK, April 12, /ITAR-TASS/. There are good prospects for doing business in China and on the “promising markets” that are developing in the Asia Pacific Region, VOLGA GUNVOR owner Gennady Timchenko said.

“We have been cooperating with China for several years and have some very serious projects, one of which is NOVATEK’s project in Yamal” to supply Russian gas to China, Timchenko told Vesti v Subbotu (News on Saturday) television programme on April 12.

“This is our big success. But we need to keep the pace and implement all of our plans by 2017 so that we could deliver the first consignment to China in the second quarter of 2017,” he said.

China is offering vast opportunities for cooperation and may even consider buying Russian hydrocarbons for the yuan. “It seems our Chinese partners are prepared to consider this seriously,” Timchenko said.

Commenting on the Russian government’s recommendation to Russian companies for move their stock trading from London and New York to Moscow, Timchenko said “it’s unlikely [Russian companies] are ready” but “some of them may be quoted on the Russian exchange. We may as well use the Chinese experience. And there is Hong Kong where, I think, we can work comfortably”.

The businessman said his company was investing “mainly in Russia” and admitted that the U.S. sanctions against him were “slightly unexpected but quite an honour for me because I took it as an assessment of my investments in Russia”.

He said his partners and he had “taken care of our assets in advance and now everything is in Russia and safely kept in our Russian banks”.

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