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12.08.24 17:12

Economy

Far East demonstrates its investment potential at Eastern Economic Forum in China

Border regions of Russia and China increase economic cooperation⁠

China hosted a field session of the Eastern Economic Forum 2024 entitled "Prospects for Interregional Cooperation between the Russian Far East and the Provinces of Guangdong and Heilongjiang". The TV BRICS international media network was the media partner for the event.

Representatives of business circles and authorities from Russia and China gathered in Guangzhou to discuss joint projects and opportunities for further cooperation.

Trade and economic connections between the regions of the Far Eastern Federal District and the border provinces of China are developing intensively, and investment growth is observed, mentioned Yury Trutnev, Russian Deputy Prime Minister and Presidential Plenipotentiary Envoy to the Far Eastern Federal District.

"51 investment projects worth a total of $US8,99 billion are currently being implemented with Chinese capital in the Territories of Advanced Development (TAD) and the Free Port of Vladivostok (FPV)," the plenipotentiary told.

He added that Chinese business is an important source of technologies and competencies for the programmes being implemented in the Far East.

About 100 companies working in high-tech manufacturing, petrochemicals, shipbuilding, logistics, tourism, and agriculture took part in the session.

Vitaly Eksuzyan, Russian Far East and Arctic Department of State Support and Technological Development Director, spoke about projects involving Chinese capital.

The roadshow also included a presentation of special conditions for investors operating in the Far Eastern Federal District. In particular, the discussion focused on tax incentives, special customs, and administrative regimes.

The Eastern Economic Forum will be held from September 3–6 in Vladivostok. The EEF has been held regularly since 2015.

Photo: EEF

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Liao Fan

Director of the Institute of World Economics and Politics at the Chinese Academy of Social Sciences (CASS)

"We also encourage countries of the Global South to work together and contribute to the global economy. We also call on developed countries to set aside issues such as national security and strategic competition when we are discussing real global challenges – pressing issues such as public health or poverty reduction – so that development resources can be channelled truly effectively to those countries that need them. [...] Major powers and large countries must bear greater responsibility for the well-being of people around the world. This is the responsibility of the major powers"

Anutin Charnvirakul

Prime Minister of Thailand

"Russia has been a trusted friend of Thailand for over a century. […] Next year, we will mark the 130th anniversary of the establishment of diplomatic relations between our countries. We will commemorate this important milestone with high-level exchanges, thereby reaffirming our shared commitment to an even stronger partnership for the benefit of our peoples"

Ferdinand Marcos

President of the Republic of the Philippines

"First, peace, security and stability. [...] We need our joint efforts to contribute to peace and security and to respond promptly to all threats. Second, a more dynamic economic partnership. Our areas of cooperation in trade are developing. We need to act more ambitiously and decisively in order to facilitate trade, economic flows and the expansion of the business community. [...] And third, perhaps one of the most important areas, is our peoples, grants, student exchanges, academic partnerships and tourism. [...] The relationships that are being built between our countries are reflected in the summit declaration, and they provide what policy alone cannot achieve"

Anwar Ibrahim

Prime Minister of Malaysia

"The relations in the last few years have been remarkable. We have seen impressive development, and my visit was – you were fantastic. We see the enormous role that Russia can play not only in Malaysia but also in the developing world, ASEAN and the rest. We are exploring this halal economy and finance. We are now almost finishing the visa abolition arrangement. [...] And then you have also agreed to these flights for tourism, for trade, and connectivity between Malaysia, Moscow, Kazan, and other cities in Russia"

Vladimir Putin

President of the Russian Federation

"This forum, which has brought together leading representatives of the business communities of our country and the ASEAN member states in the hospitable capital of Tatarstan, Kazan, is of particular importance. This year marks the 35th anniversary of Russia–ASEAN relations. During this period, we have accumulated substantial experience in multifaceted cooperation, established strong ties, including between the Association’s Business Advisory Council and the Russia–ASEAN Business Council, and created a solid foundation for the future"

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