Meeting of the co-chairs of the Russia-China Intergovernmental Commission on Cooperation and Development of the Far East and Baikal Region of Russia and of Northeast China

Meeting of the co-chairs of the Russia-China Intergovernmental Commission on Cooperation and Development of the Far East and Baikal Region of Russia and of Northeast China

On 24 November, an inter-session meeting of the
co-chairs of the Russia-China Intergovernmental Commission on Cooperation and
Development of the Far East and Baikal Region of Russia and of Northeast China
– Deputy Prime Minister and Presidential Plenipotentiary Envoy to the Far
Eastern Federal District Yury Trutnev, and Vice Premier of the State Council of
the People’s Republic of China Hu Chunhua – was held via videoconference.

Yury Trutnev noted that China was Russia’s main
economic partner in the Far East: “The volume of trade between our countries is
growing. Over the first nine months of 2021, the Far East’s trade with China
amounted to $9.5 billion, which is an increase of 17.2 percent.”

State support measures also encourage the inflow of
foreign investments to the Russian Far East, such as preferential treatment in priority
development territories and the free port of Vladivostok. Over 2,600 projects
worth around $90 billion of investment are being implemented in the Far Eastern
Federal District with state support. As many as 56 projects involving Chinese
capital with a total amount of investment reaching $2.4 billion are being
implemented in the Far Eastern priority development territories and the free
port of Vladivostok. These include projects in such sectors as industrial
production, agriculture, construction, transport, and logistics.

Fostering the development of advanced technologies was
noted as a main area of cooperation. In accordance with the Presidential
Executive Order, work is underway on Russky Island to create an innovative
science and technology centre. A special legal regime is provided, with tax
incentives, special conditions for foreign professionals and the possibility of
land grants for creating scientific and commercial infrastructure to launch
innovative projects. Biotechnology, the World Ocean, ICT and robotics will be
the main areas of the center’s activities.

“We are ready to work together with our Chinese
partners and invite the leading research centres and technology companies of
China to take part in high-tech projects,” Yury Trutnev said.

More to be posted soon…

Source

Latest articles

Related articles