Russia to improve economic policy and ties with neighbours

According to Sergey Naryshkin, who has spoken to the media for the first time since being appointed Deputy Prime Minister, improving economic policy and ties with neighbours are high on the agenda of Russia's newly reshuffled cabinet.

In his speach Mr Naryshkin enumerated the main weak points of Russia's economy. “First of all, we have poorly balanced export structure. It is too dependant on the foreign economic situation. Secondly, Russian companies are not participating sufficiently in international integration and the division of labor. And also, the transaction costs of both export and import are much too high, which is caused by complex and non-transparent customs procedures,” he stated.

“Government efforts are aimed primarily at tackling these problems. Future relations with the CIS countries is another task for a new vice-premier, as President Putin noted. We need to strengthen integration processes on the CIS territory. We need to develop and promote the idea of a common economic space. This is another issue to be solved by the government and me as a Vice-Premier,” stressed Russia's Deputy Prime Minister.