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17:47, 16.09.2008 |
Russia
Russian President Dmitry Medvedev said Friday that Moscow would pursue economic cooperation with Asia amid growing tensions between Russia and the West over the conflict in Georgia.
"Without diversification of our economy towards the East, our economy has no future... We will do this. This is one of the priorities," Medvedev told a high- profile group of Western foreign policy experts in Moscow.
But Medvedev also said that the development of economic relations with Asian countries, particularly in the energy sphere, would be done "without causing any harm to the West."
Russia's energy exports are traditionally oriented toward Europe but the country has been investing in new infrastructure including pipelines and export terminals to pump oil and gas to China and other Asian economic powers.
Russia still receives far more foreign investment from Europe than Asia.
-Nasdaq
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Politics 
Economics 
