On November 7, The Plan on China-Russia Cooperation and Development in the Russian Far East Region (2018-2024) (hereinafter referred to as Plan) was formally approved. Recently, heads of MOFCOM Department of Eurasian Affairs interpreted the Plan.

I.What is the background of the approval of the Plan?

Strengthening the China-Russia cooperation in the Russian Far East Region is an important consensus reached by the two heads of state and a priority for the pragmatic cooperation between the two sides. To further strengthen the guidance on cooperation between local departments and enterprises of the two countries, the Ministry of Commerce, together with China Development Bank and Ministry for the Development of the Russian Far East jointly compiled the Plan on China-Russia Cooperation and Development in the Russian Far East (2018-2024). After nearly a year of consultations and preparations, the two sides signed the Plan when President Xi Jinping attended the fourth Eastern Economic Forum in Russia in September this year and formally approved it during the 23rd regular meeting between the Chinese and Russian prime ministers.

II.What are contained in the Plan?

Containing nearly 10,000 words, the Plan is divided into seven parts. It focuses on the cooperation advantages of the Russian Far East for Chinese investors in terms of geographical location, energy resources, agriculture, forestry and fishery, transportation and aircrafts, and vessels manufacturing. In detail, it introduces Russia’ national policies for the far east region to support foreign investors, and the opportunities for Chinese investors, including preferential tax , key regions and areas of attracting investment, supporting policies for infrastructure and funding, e-visa, etc. It introduces the economic and trade cooperation between the Russian Far East and China; promotes the seven priority areas for China-Russia economic and trade cooperation in the Russian Far East, including natural gas and petrochemical industry, solid minerals, transportation and logistics, agriculture, forestry, aquaculture and tourism; explains in details the China-Russia strategic cooperation projects and infrastructure projects in the Russian Far East; and comprehensively interprets the development mechanism of China-Russia economic and trade cooperation in the Russian Far East.

On the whole, the Plan has solid foundation and substantial contents, which fully reflects the industrial advantages, market conditions and policy environment of the two sides. It is a programmatic document for the cooperation between the two sides and a guidance for Chinese enterprises’ investment in the Far East.

III What is the major work next?

As the Chinese Secretariat of the Northeast of China and the Russian Far East and Baikal Regional Intergovernmental Cooperation Committee, the Ministry of Commerce will maintain close contacts with Chinese departments, financial institutions, industry associations and enterprises, and work closely with Russia to implement the Plan and revise and update the Plan timely according to the cooperation situation.

Following the principle of government guidance, enterprise entities and market operation, based on the complementarity of advantages and win-win cooperation, China and Russia will take the Plan as guidance and pragmatically promote economic and trade cooperation in the Russian Far East.

Plan on China-Russia Cooperation and Development in the Russian Far East (2018-2024).docx