OREANDA-NEWS. International Paper, one of the global leaders in the pulp & paper industry, became a member of the Foreign Investment Advisory Council in Russia (FIAC), a key state-private entity that works to improve the investment climate in Russia for both foreign and domestic companies, thus helping encourage development of the Russian economy.

In a welcome letter to International Paper Chairman and CEO John Faraci, Deputy Minister for economic development Sergei Belyakov expressed confidence that “IP’s significant global experience and constructive proposals will contribute to the improvement of investment climate in Russia.”

John Faraci, Chairman and CEO of International Paper, said: “International Paper has been making significant high-quality direct investments in Russia, both in an IP-owned paper mill in Svetogorsk, Leningrad Oblast, and in the joint venture Ilim Group, one of the leaders of the Russian pulp and paper industry. This reflects the company’s interest in a healthy economy and investment climate in Russia. As one of the largest paper and packaging producers in the world, IP is ready to work jointly with the Russian government and FIAC member companies to make Russia a more attractive place to invest”, underlined Mr. Faraci.