Русский
The government authorities of Russia’s Primorye Krai region, which borders China and North Korea, aim to boost trade with China up to US$11 billion by the end of 2024. The statement comes as the region hosts a delegation for the facilitation of international trade from China’s northern Heilongjiang province, which shares a significant border with Russia. During the visit, the parties discussed trade prospects. The flags of both Provines are shown above.
Andrey Blokhin, the minister of economic development of the region, said that “China is the main trade partner of Primorye. The region’s trade with China has grown by over 25% a year for the past few years. We plan to increase the trade by US$2.4 billion to US$11 billion in 2024”
The region’s exports to China include seafood, forestry and agricultural products, including milk, corn, soybeans and honey. “Now we can offer for export processed softwood and hardwood sawn timber and manufactured wood production. With stable demand, we are also ready to increase milk exports to 15,000 tonnes from 2027 and exports of organic Primorye honey to 12,000 tonnes,” Blokhin said.
He also invited Chinese partners to participate in the region’s housing, tourism and infrastructure projects. The minister also extended an invitation for the Chinese delegation to attend the ninth Eastern Economic Forum, which will be held in Vladivostok in early September.
Vladivostok is the capital city of the Primorye region, is a major Pacific Ocean port, and is connected via the Trans-Siberian railway to multiple large Russian cities including Moscow. It also has connections through to Beijing via Harbin as well as a large free trade economic zone offering preferential tax rates for foreign investors.
For more information about market opportunities in Vladivostok and Primorye please contact [email protected]
