Sun, Jul 14, 2013 - Page 3 News List

Taipei and Russia set to sign transport agreement

NEW LINKS:The pact is the result of 10 years of talks and will be signed next month, allowing Taiwan’s cars and high technology greater access to Russia

Staff writer, with CNA

Taiwan and Russia will sign a transport agreement next month, the Taipei City Government said.

The city government, relaying what was said during a meeting between Taipei Mayor Hau Lung-bin (郝龍斌) and Moscow-Taipei Coordinating Commission for Economic and Cultural Cooperation chairman Oleg Ivanovich Lobov in Moscow, said Russia is in need of Taiwan’s assistance in providing technology for product development, marketing and sales. Meanwhile, Russia can offer construction sites, land and factories as incentives for Taiwanese businesses to invest in the country.

The Russian side reportedly said during the meeting that Taiwanese automaker Luxgen Motor Co already has a foothold in Russia and more Taiwanese businesses are welcome to venture into the country.

Lobov was also quoted by the city government as saying that after 10 years of negotiations, Taiwan and Russia will sign a transport agreement next month once revisions of some texts of the agreement have been completed.

Hau, who returned to Taipei from Moscow on Friday, said that after the agreement is signed, it will greatly boost relations between Taiwan and Russia and significantly strengthen economic and trade relations between the two countries.

Hau added that after a transport link is established between the two countries, this will help improve bilateral relations, expand their respective markets and increase reciprocity for the two sides.

For instance, Taiwan’s automobiles and high technology products will be allowed to enter the Russian market by setting up distribution outlets in the country in the future, he said.

Hau added that after the pact is signed, the city will help encourage more Taiwanese businesses to invest in Russia by holding promotional events and giving briefings to let them gain a better understanding of Russia’s market.

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