SHANGHAI, September 8. /TASS/. Russia and China possess efficient mechanisms to expand investment cooperation, though it is necessary to steady this interaction considering the consequences of the coronavirus pandemic, Trade Representative of the Russian Federation in the People’s Republic of China Alexey Dakhnovsky said at the opening of the Russian-Chinese investment cooperation forum, which is part of the 21st China International Fair for Investment and Trade (CIFIT) in Xiamen.

"There are efficient mechanisms aimed at attracting investment between our countries," he said, mentioning the intergovernmental Russian-Chinese commission on investment cooperation, special investment contracts, and special economic zones among them. Various communication platforms that integrate representatives of the state and business of different countries for the implementation of joint projects serve as important mechanisms of international investment cooperation as well, Dakhnovsky added.

Investment cooperation between the two countries formed a firm basis for development over the past 20 years, whereas the total amount of direct Chinese investment in Russia exceeded $12 bln in 2020, he said. Meanwhile, the Russian-Chinese investment cooperation needs to be steadied, the trade envoy noted. "Amid the consequences of the pandemic, it is necessary to steady trade and investment cooperation. Top-ranked leaders both in Russia and China say about it today. I am confident that today’s event will contribute to the future strengthening of investment cooperation between our countries and help reach the national targets of Russia’s and China’s development," he said.

Russia takes participation in the CIFIT fair, which is currently one of the main investment platforms in China, for the first time. This year it is devoted to the theme ‘New international investment opportunities under the new development pattern’, whereas the main work will be focused on investment projects and BRICS countries, the ‘One Belt One Road’ initiative and RCEP states (Regional Comprehensive Economic Partnership agreement signed at the end of 2020 by China with Australia, Japan, South Korea, New Zealand and ten ASEAN countries).

Around 5,000 enterprises from almost 100 countries and regions of the world are expected to participate in the fair.