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The business meeting took place before the beginning of the IV Council for Interregional Cooperation in the Volga–Yangtze format, held in Nanchang, China.
As the Plenipotentiary Representative of the President of the Russian Federation in the Volga Federal District Igor Komarov noted, the regions of the Volga Federal District express high interest in further cooperation with China. He suggested devoting the meeting of the Council to the prospects for practical cooperation in the regulatory, trade, economic, investment, and humanitarian spheres.
"Common to all regions is the need to develop cooperation and purchase from Chinese partners various equipment, materials and components in the petrochemical, electronics, and automotive industries. There is also an interest of a number of chemical enterprises in obtaining technical and technological support from Chinese state-owned companies to organize the production of organic synthesis products," the plenipotentiary stated. He also called the support of export from the regions of the Volga Federal District an important area of cooperation.
Vice Premier of the State Council of the People's Republic of China Zhang Guoqing focused the attention of the meeting participants on the indicators of bilateral trade turnover for the first ten months of 2023. It amounted to $196.4 billion, which is more than 27 percent higher than in the same period last year. At the same time, in January-August 2023, the trade turnover between the regions of the Volga Federal District and the Chinese provinces located in the upper and middle reaches of the Yangtze River amounted to $ 12.5 billion.
"Our potential is far from being exhausted, and we are pleased to note the restoration of trade cooperation between the regions. The main task for us is to implement of important agreements reached at the highest level, and I am ready to maintain close contacts with you and promote joint work in all areas," Zhang Guoqing stressed.
Commenting on the meeting, the Governor of the Penza Oblast noted that business communication in the Volga–Yangtze format gives regions new opportunities to present their investment potential.
"We are building trusting relationships with foreign investors who have been working with us for many years. Over the past decade, the region has multiplied its production capacity, we are ready to expand business communication and build new partnerships," Oleg Melnichenko summed up.