MOSCOW, November 15. /TASS/. Russia quickly restructured foreign trade and expanded cargo flows to the South and East, Russian Prime Minister Mikhail Mishustin said at the Transport of Russia forum.

"In the context of the formation of a new multipolar world, we managed to quickly restructure foreign trade and expand cargo flows to the South and East," the Prime Minister stressed.

"Despite the sanctions challenges, the industry is moving forward dynamically, ensuring a reliable supply of the industrial sector, business and citizens with all necessary goods and services and stable supplies abroad of export products of domestic companies," Mishustin said.

He welcomed the forum participants and noted that the development of transport infrastructure is extremely important for the future of Russia with its vast territory and leads to active economic growth in all directions. Mishustin called it important to complete the ongoing transformation systems in this area.

"For this purpose, about 1.5 trillion rubles ($16.7 bln) are allocated annually in the federal budget over the coming years to finance the state program for the development of the transport system," the Prime Minister said. He noted that all priority projects are included in the transport strategy approved by the government and provide significant opportunities for strengthening the country's economy.