Russia to increase share in APR trade by 50%

Russia plans to increase its share in foreign trade in the Asian-Pacific Region by at least 50%, First Deputy Prime Minister Igor Shuvalov said, RIA Novosti reports.

The upcoming APEC forum in Vladivostok will help expand trade in the region, he said. 

A special structure will be put in place to act on the plan, he added. 

The vice premier also said that Russia’s membership in the WTO posed no threat for manufacturers in the Far East.

Shuvalov said that both Russia and the United States have "common positions" in the region and want to form the Transocean Free Trade Zone.