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Russian Minister urges Australia to boost investment
RBC, 06.09.2007, Moscow 19:52:32.Russian Agriculture Minister Alexei Gordeyev, who is also the co-chairman of the joint Russian-Australian trade and economic cooperation commission, has called on Australian companies to increase investment in Russia. According to the Russian Agriculture Ministry's press office, Russian companies invested $700m in Australia over the past four years, while the latter's investment did not exceed $12m. Citing this data, Gordeyev stressed that the countries needed to move away from the one-way street their relations have been on and take a further step toward partnership, allowing businesses to integrate. On the whole, trade between Russia and Australia stood at $525m in 2006, $500m of which was accounted for by imports (meat, raw hides, and specialized equipment from Australia, among other things), which more than doubled over the last year and a half.
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