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Ministry of Regional Development discusses Russian-Chinese cooperation at EXPO

The Russian delegation led by Deputy Prime Minister Dmitry Rogozin arrived in Harbin to participate in the Russian-Chinese exhibition EXPO-2014, the ministry’s press service reported.

In 2013, Russian-Chinese trade increased by 1,6% compared to 2012 in the year and amounted to 88,8 billion dollars. Since 2010, China is the first trading partner of Russia.

At the meeting, it was said that Heilongjiang Province accounts for about a quarter of the foreign trade turnover of the two countries (22,3 billion dollars), as well as 34% (950 million dollars) of the total Chinese investment in the Russian economy.

The parties expressed their readiness to increase bilateral interregional relations, foreign trade and participation in mutually beneficial projects.

For the Chinese side, infrastructural projects in the border area - the Jewish Autonomous Region, the Amur Region and the Khabarovsk Territory - are of particular interest.

In turn, the head of the Ministry of Regional Development of Russia Igor Slyunyaev said that "infrastructure projects of interest to both parties could be implemented on the basis of not sovereign (state) guarantees of the Russian Federation, but using the mechanism of sufficient guarantees - shares, bonds, infrastructure loans", and recalled a similar experience in the construction of the Trans-Siberian Railway. “Bonds on the Transsib were served by our state even after 1917,” the Minister recalled.

In addition to infrastructure projects, in the opinion of Igor Slyunyayev, the transit potential of Russia is of particular interest to the parties in the movement of goods from Europe to North China over land, as well as along the Northern Sea Route.

Another promising sphere of Russian-Chinese cooperation at the level of interregional relations could become, according to the head of the Ministry of Regional Development of Russia, the development of the industry of building materials of mass application, in which the PRC has already accumulated sufficient experience, as well as the development of commodity markets of third countries.

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