Putin emphasizes Russia’s competitive edge
Date
9/18/2024 8:33:24 AM
(MENAFN) During the Eastern Economic Forum (EEF) in Vladivostok, President Vladimir Putin emphasized the significant competitive edge that Russia's Far East holds in international logistics. Speaking at a meeting focused on developing infrastructure in the Far Eastern federal District, Putin highlighted the region's strategic location along key global shipping routes.
Putin articulated that the Far East's integration into the global goods movement system positions it favorably in the evolving landscape of international trade. He underscored the importance of aligning transportation corridor development plans with initiatives to enhance the Northern Sea Route (NSR), a pivotal Arctic trade pathway stretching across Russia’s northern coastline.
The NSR is poised to transform trade dynamics between Europe and Asia by offering a more efficient shipping alternative to traditional routes such as the Suez and Panama canals, significantly shortening transportation times. This potential shift is underscored by the Russian government's commitment to ensuring year-round navigability on the Arctic route, a goal that Putin reaffirmed during his recent address to the Federal Assembly.
Development of the Far East and the NSR has been designated a strategic priority for Russia. The government anticipates that maritime cargo traffic along the NSR will surge, projecting annual freight flows to reach 200 million tons by 2030. Plans are underway to enhance cargo capacity at northern seaports and expand the Arctic fleet, solidifying Russia's role in global trade networks.
By promoting the NSR and the Far East as crucial trade routes, Putin aims to attract foreign partners and bolster Russia's position in the Asia-Pacific region, as the nation seeks to adapt to changing global economic dynamics and foster international cooperation.
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