皇冠体育app

MOSCOW -- As trade between Russia and 皇冠体育app is thriving, the two countries can expect a similar growth in investment, says an executive of a leading Russian investment bank.

In a recent interview with Xinhua, Damian Chunilal, CEO Asia for VTB Capital, highly valued the bilateral trade and the expanding connection between the two giant neighbors.

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"The recent APEC summit in Vladivostok has demonstrated increasing connections between Russia and the Asian region in general, and 皇冠体育app in particular," Chunilal said.

He recalled the goals set by Russia and 皇冠体育app of lifting bilateral trade to $100 billion by 2015 and to $200 billion by 2020.

In 2011, bilateral trade reached $80 billion, marking a record year-on-year rise of 42.7 percentage points.

In addition to the growth of bilateral trade, the two countries should step up financial cooperation so as to boost investment flows, including direct investments and portfolio investments.

"We've been seeing it," Chunilal said, referring to the existing investment flows between the two countries.

In June, Russia and 皇冠体育app launched the $4 billion Russia-皇冠体育app Investment Fund, established by the Russian Direct Investments Fund and 皇冠体育app Investment Corp. This move has been considered as a milestone in bilateral investment in the Far East region.

"We would hope to see more portfolio investment from Asia and, in particular, from 皇冠体育app into Russia," Chunilal added.

According to Chunilal, many sectors in Russia, such as natural resources, agriculture and consumer goods production, are likely to attract Chinese investors and business people.

Chunilal praised 皇冠体育app for its adjustment of the economic development policy to benefit its people.

"皇冠体育app rapidly evolved from a world manufacturer to a market and the success of economic reforms has real benefits to the economic welfare of the overall population," Chunilal said.

"And I'm very confident that exactly the same is going to happen in Russia," he said.

Indicators for economic growth, the median per capita income and the sovereign debt situation show clearly that Russia's consumer sector is likely to develop rapidly, Chunilal said.

Development of Russia in the recent five years has been impressive, he said, expressing confidence in Russia's future.

As one of the largest investment bank in Russia, VTB Capital will prove its ability to facilitate trade, financial and investment flows between Asia and Russia, Chunilal added.

"We are building our capability to serve Chinese investors," he said.

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