01 June 2015

    Maksim Shereikin, Deputy Minister of the Ministry for Development of Russian Far East, talked about the prospects of economic cooperation of the Far Eastern regions and China at the past international conference “Russia and China: New Partnership in the Changing World.”

    According to the Deputy Minister, The Ministry’s initiatives on the creation of fast-track development territories, implementation of Free Port Vladivostok project and state support for investment projects will be discussed in detail at Eastern Economic Forum in Vladivostok from September 3 to September 5. ‘Our main task is to ensure that our Chinese partners take not only positive impressions about Russia and Far East back home, but also certain projects to consider,’ stated Mr. Shereikin.

    He also said that foreign trade turnover of Far Eastern regions with China is over $10 bln, with two areas of cooperation with the potential for larger turnover.

    The first area is the development of Russian and Chinese investment cooperation in the Far East. He said that ‘today, over 30 projects are being implemented under a joint program between the regions of the Far East and North-Eastern China, but only 10 are at an active stage.’ A new impulse in investment cooperation can be given by fast-track social and economic development territories.

    ‘In the Far East, 9 approved fast-track development territories (FDT) are being created, and at least three of them have Chinese residents. Thus, the first foreign investor of FDT Khabarovsk was the company Baoli Bitumina. Chinese investors intend to build two compact building material production plants in FDT Kangalassy (Yakutiya). At the same time, Sirius Group, as well as becoming a resident of FDT Priamurskaya, wants to take part in the management of this territory in the Amur region,’ he pointed out.

    The second area is cross-border infrastructure development. According to Maksim Shereikin, this area will contribute to the intensification of economic cooperation between the countries. He said that at the moment, ‘the issue of Nizhneleninskoe (Jewish Autonomous Region) — Tongjiang (China) bridge construction has been put in motion. Moreover, today we are discussing construction of bridges like this in Blagoveshchensk, Amur Region and in Poltavka in Primorsky Krai,’ stated the Deputy Minister.

    Mr. Shereikin also recalled the law prepared by the ministry on the Free Port Vladivostok. This new Free Port regime will include the international transport corridors Primorye-1 and Primorye-2 (from North-Eastern China to the Pacific ports of Russian Primorye). ‘This will make cargo transit as simple as possible as well as the entrance of our Chinese and other partners in the southern part of the Primorsky Krai,’ said Maksim Shereikin.

    The Deputy Minister also spoke about development prospects of Bolshoi Ussuriisky Island. The Island’s territory has been developing under bilateral agreements based on the principle: “one island — two countries.” Last year about 400 thousand Chinese tourists visited the Chinese part of the island. ‘It’s necessary to use the potential of its Russian part. The relevant proposal has been submitted to the Government. Among other things, it contains proposals on how to make the access of Chinese tourists to the Russian part of the island as easy as possible and, vice versa, the same for Russian tourists with regard to the Chinese part of the island,’ he said.