Official: joint China-Russia efforts needed to develop Far East

A Chinese senior diplomat says the Eastern Economic Forum is a real business platform for the development of international cooperation in the Far East, which is important for both China and Russia. 

Yan Wenbin, consul general in Vladivostok, adds China has actively participated in the development of the region and is one of the important investment partners. 

"According to data provided by the Russian side, the total volume of trade between China and the federal subject exceeded 4 billion dollars in 2016. And in the first half of 2017, the total trade volume between Primorsky Krai and China is close to 1.6 billion dollars. This is more than 54 percent of Primorsky Krai's total foreign trade volume in the same period. Meanwhile, some Chinese companies are investing and operating some major industrial and agricultural businesses in Primorsky Krai," said Yan.

The third Eastern Economic Forum opened on Russky Island in Vladivostok, under the motto: "The Far East: Creating a New Reality".

More than 4-thousand politicians and entrepreneurs from 55 countries are involved in the discussions over two days. 

Deputy Prime Minister Yuri Trutnev said during his welcoming address that Russia is ready for greater cooperation in the Far East. 

Russia intends to present 32 investment projects worth about 22 billion in U.S. dollars at the Forum as the organizers of the event are confident that this will give a new impetus to the growth of the regional economy. 

Within the framework of the Forum, five international business dialogues are planned for investors from India, Japan, South Korea, the ASEAN countries and China.