Trade turnover of agricultural products between China and the Russian Federation in 2023 increased by 33%

“Agricultural cooperation is growing rapidly. In 2023, the trade turnover of agricultural products between China and Russia amounted to more than $11 billion, an increase of 33%,” he said at the fifth meeting of the intergovernmental Russian-Chinese commission on cooperation and development of the Far East and the Baikal region of the Russian Federation and Northeast of China, which takes place in Vladivostok.

According to him, the range of Russian agricultural products for delivery to China is expanding .

“We are steadily promoting investment cooperation in agriculture, and cooperation extends to processing, logistics and the entire production chain,” said Zhang Guoqing, chairman of the Chinese part of the intergovernmental commission.

He added that in 2023, China imported 1 million 290 thousand tons of seafood from the Far East, this is a historical maximum.

“Our investment projects are making steady progress. At the moment, the agreed investments of Chinese enterprises in the Far East amount to about $9 billion,” said the Vice-Premier of the State Council of the People’s Republic of China.

Deputy Prime Minister of the Russian Federation, Plenipotentiary Representative of the President of the Russian Federation in the Far Eastern Federal District Yuri Trutnev said that 51 investment projects with a total investment volume of 817 billion rubles are being implemented in the preferential regimes of the Far East with the participation of Chinese capital.

“China is Russia’s main economic partner in the Far East. Over ten years, trade turnover between the Russian Far East and the PRC has doubled in 2023 and reached 2 trillion rubles. The volume of freight traffic has increased significantly. In 2023 alone, land points with the PRC increased cargo turnover by 35% (from 29.9 to 40.4 million tons), which, naturally, places new demands on transport and logistics infrastructure,” Trutnev said at the meeting.

Trutnev also noted the prospects for organizing joint projects between the Russian Federation and China in the field of tourism. “The resumption of direct flights between the cities of the Far East and China and the return of a visa-free regime for group tourist trips between our countries once again showed the interest of Chinese citizens in visiting the eastern regions of Russia. Of the 107 thousand tourists who visited our country under this program, 70% chose Far East. We already have ready-made investment proposals in Kamchatka, the Primorsky Territory, the Sakhalin Region and the Kuril Islands, and we are ready to send them to the Chinese side,” Trutnev said.