Russia and the APEC secretariat signed an MoU Tuesday on Russia’s $3 million contribution to capacity building projects.
Russia and the Asia-Pacific Economic Cooperation secretariat signed a memorandum of understanding Tuesday on Russia’s $3 million contribution to the organization’s fund for capacity building projects.
The contribution will support workshops and pilot projects that bring developing member states up to speed on APEC initiatives such as food safety testing and implementing electronic customs systems at borders.
APEC provides funding for about 100 projects each year, with more than $11 million available in 2014. More than 2,000 projects have been undertaken by APEC since 1993.
“We look forward to continuing our support of APEC’s project activities as the major capacity building mechanism which enables APEC members to achieve our common goals,” said Valery Sorokin, Russia’s APEC senior official, at the MoU signing ceremony in Beijing.
Russia aids APEC capacity building fund
