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Joint China-Russia Fund to help new investment projects in Far East — deputy PM

July 28, 2016, 17:38 UTC+3 VLADIVOSTOK

A lawmaker says the agro-industrial fund benefits both sides

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VLADIVOSTOK, July 28. /TASS/. Establishment of a joint agro-industrial fund with China will help Russia to have funds for implementation of new investment projects, Deputy Prime Minister and Presidential Plenipotentiary in the Far Eastern Federal District Yuri Trutnev said on Thursday.

"The agro-industrial fund benefits both sides, since we have huge volume of fertile land that can be used for agriculture in our Far East. On the other part, the Chinese economy accumulated huge funds making possible to implement projects quickly and efficiently. As a result we have resources for implementation of new projects and they have environmentally sound foods and an opportunity to cultivate them on a large territory," Trutnev said.

The shareholders agreement on establishment of the Sino-Russian agro-industrial development fund was signed in April 2016. First projects are scheduled for presentation at the Russia’s Eastern Economic Forum in early September.

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