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THE MEMORANDUM OF CONVERSION OF PROMISSORY NOTES IN INSURANCE GUARANTEES OF THE GOVERNMENT

				
				
				
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THE MEMORANDUM OF CONVERSION OF PROMISSORY NOTES IN INSURANCE GUARANTEES OF THE GOVERNMENT
RUSSIA IT WILL BE SIGNED FOLLOWING THE RESULTS OF VISIT OF THE SPANISH PRIME MINISTER TO THE RUSSIAN FEDERATION.
      Moscow, on May, 21st. A/PRIME-TASS/. After planned for Tuesday in
The Kremlin of negotiations of the president of the Russian Federation Vladimir Putin and Spanish
Premiere Josц  Maria Asnara of acceptance of the joint statement not
It is planned, however will be signed a number of documents of the interdepartmental
Character. As the assistant to the head Kremlin has informed ITAR-TASS
Administrations Sergey Prihodko, speech, in particular, goes about agreements
In the field of the international automobile communication and sea
Navigation, and also about the intergovernmental memorandum on the mechanism
Conversion of promissory notes in insurance guarantees of the government
Russia to the Spanish investors.
      From the point of view of the Kremlin, Spain "is confidently put forward in number
Conducting not only political, but also economic partners of Russia in
To Europe ". Thus" the offensive, initiative behaviour imposes
The Spanish businessmen in the Russian market ", are marked by S.Prihodko.
The Spanish businessmen are ready to invest capitals in the real
Manufacture, show propensity to innovation, readiness to go on
The new forms of co-operation providing conversion in the investment
Debt parts byv the USSR, thus the size of a debt is estimated in 900 million
Dollars Therefore the Russian side attaches special significance to signing
The intergovernmental memorandum.
      At the same time in Moscow notice, that goods turnover volume between
Two countries, grown in 2000 g on 80 percents and reached 1,367 mlrd
doll, cannot satisfy completely both parties yet, first of all
On the structure. The basic share of the Russian export/total amount in
2000 g has doubled and has reached 1,055 mlrd doll/make oil and
Mineral oil. The volume of import of the Russian Federation made 312,5 million of Spain doll,
That on 2,5 percents above indicators 1999 g, thus Russia imports
Mainly articles of food/nearby 22 percents of all volume
Import/, and also cars and the equipment/20 percents / Therefore
Qualitative change of economic cooperation is
Priority problem of Russian-Spanish of interaction.
      In this connection S.Prihodko has underlined, that taken place on April, 2nd
In Moscow the third session intergovernmental mixed Russian -
The Spanish commission on economic and industrial cooperation
Has shown growth of interest of the government and business circles of Spain to
To escalating of economic business in Russia. So, Spanish
The state company on insurance of export credits has made recently the decision
.  Increase of an insurance rating of Russia and about lifting of a limit of the insurance
Guarantees for the projects realised in Russia, with 40 to 250 million dollars
      Now 23 investment are passed the Spanish party
The project in Russia. It is a question, in particular, of thermal power station-6 building in
Novosibirsk, fish-canning factory in Ohotske, about creation of a network of the small
Hotels in cities of "the Gold ring", and also about manufacture
Helicopters "Kamovs". By today volume of the saved up Spanish
Investments into Russia makes 75 million doll / it only 20 place among
Foreign investors/.
      If development of the Russian-Spanish economic relations goes
How it is planned, in Moscow are ready "to think over preparation
Joint with Spain the long-term program of cooperation on 10-15
Years ", S.Prihodko has told. - 0 -
//* an information Source: the Prime-TASS (vecher.vyp), 21.05.01
//* Reg. Nom. - 1110500221.06-------------------------------------------