MySheen

Expansion of Agricultural Cooperation with China in the Russian far East

Published: 2024-11-06 Author: mysheen
Last Updated: 2024/11/06, Vladivostok, September 3 (Reporter Zhu Yushu Wu Gang) the Russian far East Development Ministry and relevant Chinese enterprises signed the establishment of the Russian far East Agricultural and Industrial Industry Development Fund during the first Oriental Economic Forum on the 3rd to expand the Russian far East and China in agriculture.

Vladivostok, September 3 (Reporter Zhu Yushu Wu Gang) the Russian far East Development Ministry and relevant Chinese enterprises signed the "Russian far East Agricultural and Industrial Industry Development Fund" during the first Oriental Economic Forum on the 3rd to expand cooperation between the Russian far East and China in the field of agricultural production.

According to reports, the fund was jointly established by the Russian far East Development Ministry, the China Industrial overseas Development Association, the China International Economic Cooperation and Investment Corporation, and Jinggong International Group to provide financial support to agricultural production enterprises in China and Russia. The partners will also establish an economic and trade cooperation zone for agricultural and industrial industries to achieve the target of annual production of 10 million tons of grain and related products by 2020.

Russian far East Development Minister Garushka, who attended the signing ceremony, said that the establishment of the fund could expand cooperation between the far East and China in the field of agricultural production. Based on the rich grain production resources in the Russian far East, the fund aims at Asia, the world's largest and fastest growing grain market, which is conducive to the sustainable development of Russia's grain industry.

He Zhenwei, deputy secretary general of the China Industry overseas Development Association, told Xinhua that the establishment of the fund is a win-win situation for both China and Russia. The Russian far East is rich in grain production resources, and this cooperation can benefit from taxation, agricultural deep processing, port development and exports, while China can gain benefits from food security, agricultural production capacity export and enterprises going out.

The first Oriental Economic Forum was held in Vladivostok from March 3 to 5. The main task of the forum is to strengthen ties between international investors and Russian industry, federal and local governments, to assess the economic potential of the far East, to improve the competitiveness and investment attractiveness of the region, and to recommend specific cooperation projects to investors.

 
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