Addressing the meeting, Mr Zubkov said that the state must subsidise the interest rate on the loans fishing companies obtain for building vessels. "A decision must be taken urgently to subsidise the loan interest rate to the tune of two-thirds of the refinancing rate for the building of fishing vessels," Mr Zubkov said.

He noted that Vnesheconombank was ready to back the projects connected with the building of fishing vessels in Russia or the production of parts for them, for example, engines. However, no such projects are underway at present, Mr Zubkov said. He added that as Deputy Chairman of Vnesheconombank's Supervisory Board he was ready to support such projects. "The Government has the money; business must be more active, and if the projects are good we will support them," Mr Zubkov said.

During the course of the meeting Mr Zubkov also urged the need to create a network of markets in Russia for selling fresh fish and seafood. He noted that at present this sphere has been monopolised by retail networks, which make these products much more expensive. "We should draw more extensively on the experience of foreign countries in organising fish markets, he said. According to Mr Zubkov, the authorities in coastal cities should designate the sites for such markets where a system of veterinary control should be established to expedite the sale of fresh fish.

Mr Zubkov said that Governors of Russia's regions must report back to the Government by August 1 on the creation of specialised fish markets. "The Government has issued a directive and we will demand its fulfillment," he stressed.