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China-Russia regional cooperation has great potential — ministry

According to Lin Ji, "regional trade is developing well, major joint projects are making steady progress, and regional connectivity is improving"

BEIJING, May 23. /TASS/. Interregional and cross-border cooperation between Russia and China has great potential, Chinese Vice Minister of Commerce and Deputy China International Trade Representative Lin Ji said at a meeting with Russian Deputy Minister of Economic Development Dmitry Volvach.

"Cross-border and regional cooperation between the two countries has sufficient driving force and great potential," Lin Ji said at the 4th meeting of the Russian-Chinese permanent working group on interregional cross-border cooperation and special economic zones.

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According to him, "regional trade is developing well, major joint projects are making steady progress, and regional connectivity is improving."

He noted that China is ready to work with Russia to tap the potential of inter-country land transport and promote the liberalization and simplification of trade and investment procedures. China intends to "create good conditions for bilateral trade and investment cooperation" in Russia, he added.

In December 2023, Russia's Deputy Prime Minister and Presidential Plenipotentiary Envoy to the Far Eastern Federal District Yuri Trutnev said that trade turnover between Russia's Far Eastern regions and China's northeastern provinces has doubled over 10 years and amounted to $22 bln at the end of 2022. In 2023 the interregional trade turnover will be about $27 bln.

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