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Vladimir Putin proposes 'energy super cycle' project

September 03, 8:14 UTC+3
The Russian president has proposed to set up an intergovernmental working group to develop an "energy super cycle" that would connect Russia, China, South Korea and Japan
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© Artem Korotaev/TASS

VLADIVOSTOK, September 3. /TASS/. Russian President has proposed to set up an intergovernmental working group to develop the project of an energy super cycle to connect Russia, China, South Korea and Japan.

"We welcome the initiative proposed by companies of Russia, Japan, the Republic of Korea and China to create an energy super cycle to connect our states," he said at the Eastern Economic Forum on Saturday, adding that Russia is proposing "to set up an intergovernmental working group for quicker implementation of the project."  

The president sees a huge interest of political and business circles in the Asian-Pacific and other regions to Russia at this year’s Eastern Economic Forum.

"Last year more than 1 trillion rubles worth of additional investments have been attracted to the region and more than 300 investment projects have been launched," he said, adding that "this means the proposed mechanisms of supporting business are in demand."The second Eastern Economic Forum (EEF) opened on September 2 in Vladivostok. The event aims to demonstrate the efficiency of new economic mechanisms of Russia’s state policy in the Far East to some 2,500 guests and investors.

The forum’s motto is "Opening up the Russian Far East" and its program includes more than 500 events.

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