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Business from friendly countries can fill market gaps in Russia — Lavrov

The minister stressed that relations with China are developing very dynamically - two-thirds of Russia's regions have agreements with Chinese provinces

MOSCOW, November 18. /TASS/. Many friendly states are aware that their businesses can fill in potentially lucrative niches left by Western companies on the Russian market, and it is important to develop ties with these countries, Russian Foreign Minister Sergey Lavrov said on Friday.

"Developing interregional ties with friendly states - not just our neighbors, but also [countries] from other parts of the world - is critical. Many today see that with the departure of many Western companies from Russia, which were barred from operating in our domestic market, potential gaps are opening up, which their economic operators may fill," the head of the diplomatic department said.

The minister stressed that relations with China are developing very dynamically - two-thirds of Russia's regions have agreements with Chinese provinces.

According to Lavrov, the relevance of interregional cooperation with India, Turkey and Iran has dramatically increased. "Moreover, the partners are interested not only in increasing supplies of energy, agricultural products, fertilizers, and precious metals from Russia, but also in organizing joint ventures in various fields," he continued. "Cooperation with the Iranian side is a priority, [including] development of logistics and financial and banking infrastructure," Lavrov added.

The minister noted that interaction in the Caspian region, with Syria and some other countries is also actively developing. "Business relations with the United Arab Emirates are being consistently strengthened in terms of investment, banking, agricultural, and industrial sectors. There has been a trend for boosting business and humanitarian ties with Saudi Arabia, Bahrain, Oman," he concluded.