Russia and China preparing joint projects for $90 billion

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Intergovernmental Working Group has approved 66 Russian-Chinese projects in the total amount of about $90 billion, reported Russian news agency TASS. The Commission meets in Beijing right before the visit of Russian President Vladimir Putin in China.

Russian President Vladimir Putin will visit the Celestial Empire on June

Deputy Minister of Economic Development of Russia Stanislav Voskresenskiy said that on the meeting had been discussed investments for the provision of victuals security in the Asia-Pacific region. In this regard, export opportunities of Russian meat to China are discussed.

TASS pointed out that in early June, Russian Agriculture Minister Alexander Tkachev commented that he expects the Chinese market to open for supplies of Russian meat products in the near future . There are already Russian producers who declare interest in exporting their products to China.

One of the strategic projects, which is expected to be launched during Putin’s visit to China, is a grain terminal on the border of the two countries. The value of the terminal is 1.1 $billion, added the Deputy Minister of Agriculture Sergey Levin.

COFCO(China National Cereals, Oils and Foodstuffs Corporation) already expressed its interest in buying Russian cereals and the supplies can be realized through this terminal. It is expected that China will be able to receive 2-3 million tonnes of cereals annually.

The terminal can also be used for supplies to other Asian countries, said Levin.

The official visit of Vladimir Putin to China begins on June 25th.

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Martina T.
Martina Terzieva is a content writer for Business News Feeds. She likes to dig deep, find the most interesting things that happen and share them with the world. Besides news, Martina writes poetry, she's also a musician and a sound engineer.

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