Russia to develop Northern Sea freight lanes
The development of the Northern Sea Route will change the balance of powers in the sea shipping market, said Gleb Ivashentsov, deputy director of the Russian APEC Study Center, at the APEC Economic Leaders’ briefing in Vladivistok.
Russia has traditionally been a bridge between Europe and the Pacific. However, its Pacific ports and trunk railways, which have long been serving as main freight arteries between the East and the West, namely Transsib and BAM, are now in need of a substantial overhaul, Mr. Ivashentsov stressed.
He therefore urged to create new transport corridors across the seas that Russia has its coastline on.
The Northern Sea Route will help cut the way from Yokohama to Rotterdam by a third of that via the Suez Canal and will subsequently boost the Arctic shelf exploration, facilitating the access of the procured fossil fuel to the APEC energy market, Gleb Ivashentsov underscored.
APEC summit ready to go
The ambassadors of countries taking part in this year’s APEC summit in Vladivostok are meeting to agree on their final recommendations for the leaders of the world’s top industrial nations taking part in the summit.
The leaders of Russia, the US, China, Japan and 17 other nations will put their heads together to discuss a set of Russian-proposed measures to free up trade and boost investment and economic integration in the vast region
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