MOSCOW: Russian trade and development officials are in Beijing to invite Chinese companies and investors to the East Russia Economic Forum in September. CCTV’s Wang Tongxuan discussed Russia’s plans with Maxim Shereykin, Deputy Minister for development of Russia’s Far East.
Russia has launched a drive to develop its Far East region, and wants to boost cooperation with China.
“This is the new territory for development of Asia Pacific regions with new resources, with new territories and with new policies that open this possibilities for the huge amount of potential investors from Asia,” said Maxim Shereykin, deputy minister of Development of Russian Far East.
The Russian Far East is stretches from Lake Baikal in Eastern Siberia to the Pacific Ocean. With thousands of miles of unexplored forest, it is sparsely populated, with only 6.7 million people. The area is rich in natural resources such as oil and gas, ferrous metals and fresh water and Russia’s custom union with many of its neighbors makes trade with them easier too.
“Once the Chinese goods enter the Russia territory, they enter the custom union territory, so the market is bigger than it used to be before,” said Alexey Gruzdev, Russian Trade Representataive to China.
In September, Vladisvostok will host Russia’s first ever East Russia Economic Forum. The forum, proposed by President Putin will seek investment from Asian businesses to boost development.
“Most of forum is the discussion of huge issues,huge topics about the future etc, we will try to sale.This is a fare,” Maxim Shereykin said.
The Russian government says it wants to invest 100 billion US dollars to develop the region over the next five years. China will be a key partner in building roads, railways and ports.
“We have one project being discussed which suits well for the One Belt, One Road. It is Moscow-Sapsan high-speed railway which will be constructed with the Chinese partner. Then we are also thinking about to make high-speed railway from Moscow direct to Beijing,” Alexey Gruzdev said.
Chinese investors have already set up 34 special Chinese zones in the Amur Region and the Primorye and Khabarovsk territories, as well as in the Jewish Autonomous Region. Last year, they invested about 3 billion dollars, and experts say there’s much more to come.
The Russia government has been working hard to make its Far East region a more attractive proposition for investors, by expanding cross-border trade and developing its transport infrastructure.
In theory, it looks like a “win-win” situation for both sides: Moscow desperately needs the capital and expertise that China can provide while Chinese companies will be very keen to explore new challenges north of the border.
