vlad.tribnet.com / Issue #155 / Business / Reading article...

Nakhodka seeks US loan

Nakhodka’s mayor commented recently that the languishing Nakhodka Free Economic Zone may receive an $880 million loan from U.S. banks. Mayor Victor Gnezdilov said that after a trip to Los Angeles, he is hopeful that insurance companies there will grant 12-year loans for a city power station, airport renovation, a highway linking Vladivostok and Nakhodka, and 13 other projects. Gnezdilov said that all contracts would go to local construction firms.

Japan customs visits

Japanese customs representatives met this week with Vladivostok officials to discuss border conflicts and continuing customs hassles. The Japanese delegates noted that while trade has doubled between Russia and Japan in the last five years, Japanese customs inspectors continue to confiscate more weapons and narcotics from Russian ships. And Russians aired complaints that it still takes weeks for the Japanese consulate to grant visas to Russian sailors, while other consulates process documents much faster. Despite these tensions, both sides agreed that continued talks were the only way to clear up customs breaches and visa delays.