New Platforms for Cooperation between China and Russia: Prospects for Development

Cooperation between Russia and China in the Far East has a long way to go.

“Russia and China stand the best chance to develop cooperation in the Far East. <…> China is an enormous market, while Russian Far East is a gigantic treasury of natural resources with comfortable cities by the border,” Alexey Chekunkov, Chief Executive Officer, Far East and Baikal Region Development.

“The numbers show that we have some results, and one can tell by looking at the transport. The volume of container traffic between our countries was up by 55% last year, and by another 35% this year. We have achieved even better results with the Silk Road project. Last year, the transit cargo flow from China through Russia was up by 80%, and by 32% this year, and we expect it to grow even faster,” Aleksandr Misharin, the First Deputy Chief Executive Officer, Russian Railways.

Potential of Russian-Chinese cooperation is underused

“Regions, business alliances and legal entities are not always able to maintain a high level of political communication. The potential of interregional communication is one of the most promising. 51 regions of Russia are twinned with Provinces of China. This is an enormous potential for partnerships,” Dmitry Mezentsev, Chairman of the Federation Council Committee on Economic Policy.

“So far, our countries have underused the potential for cooperation in agriculture. China is inclined to increase food import and is planning an Import and Export Fair in December. But we are significantly constraineded by the trade wars,” He Zhenwei, Secretary-General of the China Overseas Development.

Source: www.forumspb.com