Local trade group returns from mission in Russia

A high-level trade delegation from Taiwan ended a 23-day fact-finding visit to Russia Saturday, which, according to a delegation member, will help boost business relations between the two countries.

The trade mission, comprising executives of Taiwan's leading enterprises and officials from related government agencies, including the Ministry of Foreign Affairs, the Council for Economic Planning and Development and the Presidential Office, was the most important group sent by the Democratic Progressive Party-led government to Russia since its inauguration in May 2000.

The trade group, headed by Pan Wen-yen (潘文炎), president of the state-run Chinese Petroleum Corp (中油), and Chung Su-sheng (鍾甦生), president of the Export-Import Bank of the Republic of China (中國輸出入銀行), traveled more than 10,000km -- from the Russian far east, Sakhalin, the Kurils, Vladivostock and Siberia, to Kazakhstan, St. Petersburg and finally Moscow -- to gather first-hand information on Russia's investment climate.

Chung said that he had fruitful discussions with several Russian banks about financing imports of Taiwan-made machinery by local manufacturers.