Russian-Canadian trade is seeing recovery after the challenging year of 2020, with 75% growth in the first eight months of this year, Ambassador in Ottawa Oleg Stepanov told Sputnik
WASHINGTON (Pakistan Point News / Sputnik - 10th November, 2021) Russian-Canadian trade is seeing recovery after the challenging year of 2020, with 75% growth in the first eight months of this year, Ambassador in Ottawa Oleg Stepanov told Sputnik.
"2020 was a difficult year for Russian-Canadian trade and economic ties," Stepanov stated. "It is gratifying that this year we are seeing recovery. This is evidenced by the numbers: in the first eight months of 2021, mutual trade increased by 75% compared to the same period last year, and amounted to $1.45 billion. Russian exports to Canada increased by 120% - up to $1.088 billion. Canadian is up 22$ to $362 million."
The potential for bilateral economic cooperation is much greater, the diplomat continued.
"We will try to promote the development of business contacts. Much is to be done," he said.
There is a sustained interest of Canadian entrepreneurs in doing business in Russia, and Russian companies also have interest in Canada.
"This is confirmed by regular meetings of Canadian businessmen cooperating with Russian counterparts in the Canada Eurasia Russia Business Association (CERBA)," he noted. "In addition, the Russian-Canadian Business Council is working vigorously. Its next meeting should be held soon, on November 18, in a hybrid format. At the CERBA platform, with the support of the Council of Russian Canadian Cooperation (CRCC), the most promising areas of bilateral cooperation are being discussed - energy, agriculture, high technologies, projects in the mining, forestry and construction industries."
When asked whether the embassy is raising the matter of anti-Russia sanctions with the Canadian side, the ambassador replied in the negative.
"Our position on this issue is well known. It is sad that Ottawa has joined the illegitimate restrictive measures against Russia initiated by Washington," he said. "This complicates the normalization and development of Russian-Canadian cooperation. These restrictions are useless. They are not capable of influencing the sovereign policy of Russia. And they are affecting the opportunities of a number of Canadian businesses, which are losing potential benefits and opportunities in the Russian market."
