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WORLD

Russia`s APEC integration `Just Beginning`

08.09.2012 [13:34]
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Baku, September 8 (AZERTAC). The Asia-Pacific Economic Cooperation summit is taking place on the Russky Island in the city of Vladivostok in Russia`s Primorye Region on September 2 to 9.

The APEC is indeed a bloc to watch out for, comprising the world`s leading economies such as China, Japan, South Korea and the United States.

The bloc accounts for almost 54 percent of the global GDP, 44 percent of the global trade and 40 percent of the world`s population

Russia is the sole petroleum exporter among all bloc members, which alone makes it attractive for fast-growing APEC economies such as China. It also boasts unique expertise on nuclear energy, which many bloc members are developing to make up for a shortage of oil and gas, and is exporting metals and cellulose products.

Russia is hoping that the APEC summit it is hosting on September 2-9 will boost its economic involvement in the Asian-Pacific region, but experts said an economic overhaul of the country`s far eastern regions is in order to pull off the plan.

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