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Kamchatka Krai and Magadan Oblast signed a cooperation agreement
An agreement on trade, economic, scientific, technical and cultural cooperation has been signed between the government of Kamchatka Krai and the government of the Magadan region, according to the official website of the Kamchatka Krai. The document was signed by the governor of Kamchatka Krai, Vladimir Ilyukhin, and the governor of the Magadan region, Vladimir Pecheny.
The parties undertake to develop socio-economic, trade, scientific, technical and cultural ties based on the principles of equality, mutual understanding, respect, trust and mutual benefit. The Kamchatka Territory and the Magadan Region will provide mutual assistance and implement concerted steps in the implementation of economic policies in their territories, help ensure the formation of flexible mechanisms for commodity exchanges, mutual payments, implementation of investment and innovative projects, and support for small and medium-sized businesses.
It is planned that the parties will seek the possibility of implementing joint investment projects, including attracting foreign capital, aimed at reconstructing and modernizing existing industries, building new production facilities that ensure high efficiency of capital investments on the principles of equal use of the final product, including its sale regions of the Russian Federation, as well as abroad.