Russia proposes that Canada diversify trade relations by supplementing the traditional trade turnover of oil and agricultural goods with cooperation in the field of innovative technologies and the development of transport in the Arctic. First Deputy Prime Minister Viktor Zubkov, having held two-day talks in Ottawa with the recently re-elected Canadian Prime Minister Stephen Harper, was convinced that relations between Canada and Russia “maintained full continuity.” As a result, in June, Blackberry communicator manufacturer Research In Motion is going to announce an investment of $250 million in innovative projects in Skolkovo.

Viktor Zubkov flew to Ottawa immediately after the parliamentary elections, in which the Conservative Party, led by Stephen Harper, won once again since 2006, retaining the prime minister’s post for the third time. Viktor Zubkov only had to make sure that the Canadian cabinet of ministers, formed on May 18, “maintained full continuity” in relation to Russia.

Today, Canada is not among the leaders among Russia's trading partners. During negotiations with Stephen Harper and Canada's Minister of International Trade Edward Fast, Viktor Zubkov emphasized several times that in 2007 trade turnover fell to $1.7 billion, and in 2010 returned to the pre-crisis level of $2.6 billion. In Russian exports to Canada more than 80% of supplies come from oil and petroleum products. More than half of Russian imports from Canada are machinery, equipment and vehicles, as well as chemical industry products. A special place is occupied by the supply of agricultural products, the volume of which is expanding. Almost a third of imports from Canada to the Russian Federation in 2010 were agricultural: $397 million was purchased for meat products and breeding stock. The possibilities of increasing the supply of Canadian beef were even discussed separately at the agribusiness forum during the visit. Viktor Zubkov proposed to resolve problematic issues of sanitary control within the framework of a high-level joint commission, which would be headed by the heads of Rosselkhoznadzor and the Canadian Food Safety Agency.

However, this time it was not agricultural issues that came first in the negotiations. At a meeting with Stephen Harper, Viktor Zubkov spoke about the investment attractiveness of not only traditional sectors of the economy. On the eve of the negotiations, the board of directors of the state corporation Rusnano approved a project of participation in the joint Russian-Canadian investment fund in nanotechnology Pangea Ventures Fund III from the Canadian province of British Columbia for $185 million. Another Canadian venture fund, Venture Links Fund, is ready to create an investment fund together with Rusnano fund of $200 million. According to Viktor Zubkov, these are “only the first steps in long-term cooperation” and “Russia is interested in the interest shown by Canadian companies in the project of creating the Skolkovo international innovation center.” As noted at the negotiations, in June the Canadian manufacturer of Blackberry communicators Research In Motion is going to announce an investment of $250 million in several innovative projects in Skolkovo.

Investments in traditional sectors of the economy were not forgotten either. Victor Zubkov reminded Canadians of the nine largest companies included in the privatization plan for 2011-2013. The list is headed by Rosneft and Sberbank. The government has not yet announced the exact dates of privatization and the cost of specific blocks of shares. In Ottawa, Viktor Zubkov estimated the privatization plans of the Russian government at $30 billion. And as an example of the recent investment success of Canadian capital in Russia, he cited Kinross Gold, which was the first among foreign companies to receive in Russia the rights to acquire two gold ore deposits in Chukotka - Dvoinoye and Vodorazdelnoye .

The First Deputy Prime Minister also informed Canadians about the unyielding position of the Russian government on the development of the Arctic, which “does not see the need to attract any new major extra-regional players to the Arctic, be it NATO or the EU. In the Arctic, Viktor Zubkov agreed to cooperate with Canadians on any projects - even to recreate the sea routes along which lend-lease cargo was delivered to Russia during the Second World War. "Why not? — Viktor Zubkov noted about this. “Back then we transported military cargo, now we are building trade relations.” It is necessary to develop maritime trade and transportation. It is possible to gather in Moscow the heads of the ports of St. Petersburg and Murmansk. Arkhangelsk, Halifax and other ports to consider such opportunities.”

Petr Netreba, Ottawa

Viktor Zubkov returns from Canada with a Blackberry