Park Suk-hwan, 1st Vice Foreign Minister, met with Russia's Deputy Minister for Regional Development Maxim Travnikov at the Ministry of Foreign Affairs and Trade in the afternoon of May 6. In the meeting the two sides agreed to foster direct exchanges between businesspeople of the two countries, and discussed cooperative measures to resolve difficulties faced by Korean companies operating in Russia.

Vice Minister Park and Deputy Minister Travnikov shared the view that the 7th Korea-Russia Far East and Siberia Subcommittee Meeting and the 2nd Business Forum, in which businesspeople from Korea and Russia met in person, shared information about investment projects in Russia, and held one-on-one business meetings, drew positive responses from businesspeople of the two countries.

Deputy Minister Travnikov explained Russian government's plan to follow up on the 2nd Business Forum by setting up a government-level program to promote direct exchanges between businesspeople of the two countries and to provide opportunities for Korean businesspeople to have a first-hand look at Russia's investment environment.

Vice Minister Park appreciated Russian government's recent efforts to improve its environment for foreign investment. He also stressed that for such effort to bring tangible results, it is important to make a model case where obstacles faced by Korean businesses in Russia are promptly removed.

Deputy Minister Travnikov agreed with Vice Minister Park, saying that he will continue to support successful operation of Korean enterprises in Russia by actively sharing the relevant information, including details related to improvement of investment environment and procedures involved in resolving difficulties in conducting business.