Sergey Kruglik, Head of Federal Agency of the Russian Federation for Construction and Housing and Municipal Services (Rosstroy), paid a visit to Canada. Within the frameworks of the Construction Working Group of Canada-Russia Intergovernmental Economic Commission he held a number of meetings in Toronto from 27th of November till December 1st, 2006. The key outcome of the visit was Memorandum of Understanding (MoU) signed by Rosstroy and Canada Mortgage and Housing Corporation (CMHC) on November, 28.

The MoU will focus on urban planning and residential construction in Russia. Furthermore it provides for bi-lateral trade promotions and technology exchanges. This is expected to create opportunities for Canadian architects, civil engineering designers, urban developers, construction project managers, developers, contractors, as well as suppliers of building materials and equipment. For Russia, this agreement represents an opportunity, not only to take advantage of Canadian technology and know-how, but also to enhance its housing finance system, which will ultimately lead to improved economic and social benefits.

For additional information visit:
Official website of Rosstroy
Official website of CMHC