21 November 2016

    The parties assessed progress made on joint investment projects in the Far East during negotiations, according to a release from the Ministry for the Development of the Russian Far East.

    Vladimir Putin held a series of bilateral meetings during the APEC summit. During talks with the Chinese President Xi Jinping the heads of state discussed Russian–Chinese cooperation. The President of Russia noted the positive trend in trade and economic relations.

    “This applies to highly processed products and to high-tech areas of production. We are advancing in all these areas, in spite of any obstacles which may arise, and this is highly encouraging,” emphasized Putin.

    The President of Russia commented on the recent 21st meeting between the leaders of the two countries, where 25 international agreements were signed. One of these documents concerned the establishment of the Intergovernmental Commission for the Cooperation and Development of the Russian Far East and Northeast China.

    Chinese investors have already announced more than 20 investment projects to be implemented in Advanced Special Economic Zones and the Vladivostok Free Port, with a total investment volume of around USD 3 billion. Joint work on the project to develop the Primorye-1 and Primorye-2 international transport corridors is ongoing.

    During the negotiations, the President of China presented the Ministry for the Development of the Russian Far East with a portfolio of 13 investment projects in the Far East, with an investment volume of more than RUB 750 billion. These include projects in the fields of natural resource extraction and processing, agriculture, and the development of port and logistics infrastructure. The Russian President proposed the establishment of a joint support centre for Chinese business in the Far East to his Chinese partners.

    During his meetings with Vladimir Putin, the Prime Minister of Japan Shinzō Abe commented on the renewed vigour in their bilateral relations and underscored the importance of the recent second Eastern Economic Forum.

    Both sides discussed the continuation of active efforts to implement a plan for Russian–Japanese cooperation in developing the Far East, which includes 18 major projects and initiatives in the fields of energy, infrastructure, agriculture, medicine, and urban development, with an investment volume of around RUB 16 billion.