Putin instructs Cabinet to boost competitiveness of Russian merchant flag

Business & Economy June 05, 18:00

The head of state emphasized the importance of developing ports, the trans-Arctic corridor, and the domestic fleet

ST. PETERSBURG, June 5. /TASS/. Russian President Vladimir Putin has tasked the Cabinet of Ministers and the Ministry of Transport with focusing on measures to increase the competitiveness of the national maritime merchant flag.

"I urge the government and the Ministry of Transport to continue working to enhance the attractiveness of the national merchant flag," the Russian leader said at the plenary session of the St. Petersburg International Economic Forum (SPIEF).

The head of state emphasized the importance of developing ports, the trans-Arctic corridor, and the domestic fleet.

"I am referring to increasing the capacity of seaports and the Trans-Arctic transport corridor as a global artery. We will develop our domestic merchant marine and icebreaking fleets, and build tankers and other vessels of various classes," Putin noted.

The president also outlined an ambitious goal for the Russian merchant fleet.

"Here, we set ourselves the task of joining the world's top ten nations in terms of the total deadweight tonnage of our merchant fleet," the Russian leader emphasized.

SPIEF is taking place on June 3-6. This year's main theme is "Pragmatic Dialogue: The Path to a Stable Future." The forum's program focuses on shaping a new model of global development amid the transformation of the world economy. The Roscongress Foundation is the organizer of the forum, with TASS serving as its general information partner.

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