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Oleg Melnichenko heads the work of the Penza Oblast delegation in China.
The IV meeting of the Council for Interregional Cooperation in the Volga-Yangtze format was held in Nanchang, Jiangxi Province with the participation of co–chairs:  Plenipotentiary Representative of the President of the Russian Federation in the Volga Federal District Igor Komarov and Vice Premier of the State Council of the People's Republic of China Zhang Guoqing.
During the meeting, the development of interregional trade, economic, investment and humanitarian cooperation between the regions of the Volga Federal District of Russia and the provinces of the upper and middle reaches of the Yangtze River of the People's Republic of China was discussed. The interaction will take into account the principles and intentions outlined in the joint statement of the Russian Federation and China on deepening comprehensive partnership and strategic cooperation entering a new era (dated March 21, 2023).
"Today, Russia and China are interested in establishing new trade routes and are confidently moving towards the task outlined by our leaders – $200 billion in bilateral trade," Igor Komarov said, stressing that in 2023 the trade turnover between the countries increased.
At the same time, the indicators for the regions of the Volga Federal District exceed the all-Russian ones. This year, trade turnover has increased by 58%, China's share in the total volume within the Volga Federal District has almost doubled – from 13% to 22%.
Vice Premier of the State Council of the People's Republic of China Zhang Guoqing noted that there is an increase in trade between the regions of the Volga Federal District and Chinese provinces located in the upper and middle reaches of the Yangtze River. He expressed readiness to make every effort to further develop this cooperation.
Oleg Melnichenko presented the investment potential of the Penza Region to the participants of the Council, focusing on the fact that the region has unique opportunities. The Penza region is located in the center of the European part of Russia at the intersection of the largest transport highways, which provides convenient logistics and dynamic development of production.
"The share of agriculture and industry in the gross regional product totals more than 40%, we are among the TOP 5 Russian manufacturers of confectionery products, the Penza Oblast produces more than 30% of all furniture in the Volga Federal District and 10% in Russia," the governor stated. - We are a significant center of machine tool construction. Every fourth Russian-made metalworking machine is manufactured here. Our companies have exceptional competencies in instrument making and metalworking, the production of medicines, and paper products."
The head of the region also highlighted the favorable business climate created in the Penza Oblast and trusting relationships with investors, which has allowed to increase capacity in production and processing of agricultural products.
"We are ready to cooperate with trade and logistics companies to organize direct rail routes for export and import supplies, build logistics hubs on the territory of the region, and supply a wide range of agricultural and confectionery products to China," Oleg Melnichenko suggested.
He stressed that a rational system of entrepreneurship development has been built in the region, which can be improved by providing investors with the necessary personal support measures.
"We offer our Chinese partners to consider the possibility of localization in the Penza Oblast: production of components and equipment for the furniture industry, mechanical engineering, and confectionery industry. We also offer joint implementation of an investment project for the construction of a hotel complex, and cooperation in the projects for the processing of agricultural products," the governor added.
Following the meeting, the regions of the Volga Federal District and the provinces of the People's Republic of China were instructed to intensify work on building up the contractual base of cooperation and developing joint plans for the implementation of existing agreements. It is planned that the next time the Council for Interregional Cooperation in the Volga-Yangtze format will be held in one of the regions of the Volga Federal District.