Source Pravda.Ru

Russia Tries To Attract Swedish Investment

Deputy Economic Development and Trade Minister Arkady Dvorkovich urged a delegation of Swedish investors to spend more money in Russia on Monday, showering them with promising economic forecasts. Dvorkovich said economic growth would reach 5.5 percent or even 6 percent this year if growth rates of the past two months hold. The target in this year's budget was 4 percent. Dvorkovich also said at the forum, timed to coincide with a Swedish royal visit, that investment into the economy may grow 8 percent. He added that even a drastic fall in oil prices would not upset the economy and force the government to default on debt. He said a default would only loom if oil prices fell sharply to late 1990s lows of $10 a barrel and remained depressed for three years. Oil is currently selling at closer to $20 a barrel. If oil prices remain stable, Russia will meet all payments and may even have little foreign debt left by 2010, he said. Dvorkovich, after outlining government plans for banking, tax, land, judicial and pension reforms, told the Swedish businesspeople that the investment climate in Russia would continue to improve. He said a plan was being drafted to set up industrial zones with special benefits like tax breaks for foreigners. The plan would be presented to the public in the near future, he said, without elaborating. The Swedish delegation, which included leaders from several trade associations and companies such as Volvo, Electrolux and Ericsson, appeared impressed. The volume of trade between Sweden and Russia, which had been sliding since 1997, rose by a whopping 20 percent year on year to $1.4 billion in 2000. Russia exported about $900 million worth of commodities to Sweden, mostly raw materials, an 18-percent increase from last year, the ministry's Center for Strategic Research said in a statement. However, Dvorkovich said he hoped the structure of Swedish-Russian business would undergo a qualitative change as Swedish giants launch local production, Saint-Petersburg Times wrote.

Turkish President Erdogan called for a revision of the 1923 Lausanne Treaty, which consolidated the results of the First World War for Turkey in 1923

Turkish President Erdogan issues ultimatum to Washington and Brussels

On December 10, 1948 the Universal Declaration of Human Rights was adopted by the United Nations General Assembly, its thirty articles enshrining basic and fundamental rights guaranteeing dignity of the human person and equality for all, regardless of race, color, creed or gender. A pipe dream?

Human Rights Day: Let us hang our heads in shame
Comments
The need for a Global Political Agenda 2018
New Russian weapons shocked USA three times
USA looking for reason to see nuclear weapons in action
Russia works on MiG-41 doomsday fighter jet
Putin makes first comment on Trump's Jerusalem decision
Putin makes first comment on Trump's Jerusalem decision
Ukrainian politicians and businessmen aim to visit Crimea
The Myth of the Gene: Genetics, Epigenetics and the Organism-Environment Loop
The Myth of the Gene: Genetics, Epigenetics and the Organism-Environment Loop
North Korea declares victory over USA
North Korea declares victory over USA
The Myth of the Gene: Genetics, Epigenetics and the Organism-Environment Loop
The Myth of the Gene: Genetics, Epigenetics and the Organism-Environment Loop
The Myth of the Gene: Genetics, Epigenetics and the Organism-Environment Loop
The Myth of the Gene: Genetics, Epigenetics and the Organism-Environment Loop
Human Rights Day: Let us hang our heads in shame
Some ideas about North Korea
USA looking for reason to see nuclear weapons in action
The Myth of the Gene: Genetics, Epigenetics and the Organism-Environment Loop
Putin makes first comment on Trump's Jerusalem decision
Putin makes first comment on Trump's Jerusalem decision