Amur Oblast,  Mining Industry Investment project.

Establishing at the first stage of experimental-industrial enterprise to use new advanced technologies for complex processing of mineral raw materials with extraction of aluminum, silicon and their compounds.

Between 20 and 27 May 2006, the delegation of Amur Region headed by Governor of the Amur Region Leonid Korotkov visited Canada on the invitation of the Canadian gold company “High River Gold Mines Ltd.”, which has a joint venture in the region of the Russian Far East.

On 16 May 2006, the Trade Representation of the Russian Federation in Canada took part in the 12th Annual Global Business Reception as an exhibitor of the Russian manufacturers and exporters, which was held in National Trade Centre, Toronto.

Latest Macroeconomic Developments in Russia

1. Output and Investment

Between 1999 and 2005 the average growth rate was about 7 percent. In 2005 GDP growth was 6.4%. In recent years investment amounted to about 19% of GDP, which is low compared to other rapidly growing emerging markets. To sustain growth at the current rates and enhance the productive capacity of the economy, Russia would need to increase the growth rate of investment to 15-20 % a year.

On February 3, 2006, the Canada Border Services Agency (CBSA) concluded a review of the normal values and export prices of certain hot-rolled steel products from a number of countries including the Russian Federation. The CBSA has determined normal values for JSC Severstal on the basis prices and costs in the Russian market thereby Canadian party has for the first time implemented market economy status of the Russian steel industry, which was granted de jure as long ago as 1999.