The role of Asia-Pacific Economic Cooperation in Russia’s energy policy

Abstract

The article is devoted to the Asia-Pacifi c Economic Cooperation (APEC) Forum to be held and presided by the Russian Federation in early September 2012 in Vladivostok. The article gives the background for establishing the APEC, describes its goals and decisions adopted. It defi nes the APEC’s place in the global economy as the largest association of States, which accounts for more than half of global GDP and which has set ambitious targets for establishing a free trade zone, liberalizing the investment climate and promoting regional integration. The article examines the major events in the global energy sector that triggered off the structural energy crisis in the early XXI century, causing the need for ensuring a global international energy security. The author suggests that the issue of energy security as a factor in implementing the strategic objectives of the APEC’s economic and social development should be put on the agenda of the Forum. In this connection, the article analyzes the Draft Convention on Ensuring International Energy Security proposed by the Russian Federation for discussion and possible adoption. The article also puts forward several proposals for deepening regional integration to promote the development of the Far East and Siberia, and the creation of a new export base and promoting the Eastern vector of the Russian foreign economic cooperation policy.