VINACHEM

Authorities of Russia's region of Primorye, which borders China and North Korea, aim to boost trade with China up to $11 billion by the end of 2024, the regional government said on Tuesday.

The statement comes as the region hosts a delegation for the facilitation of international trade from China's northern Heilongjiang province, which shares a border with Russia. During the visit, the parties discussed trade prospects.

"China is the main trade partner of Primorye. The region's trade with China grows by over 25% every year. We plan to increase the trade by $2.4 billion to $11 billion this year," Andrey Blokhin, the minister of economic development of the region, said at a meeting with the Chinese delegation.

The region's exports to China include seafood, forestry and agricultural products, including milk, corn, soybeans and honey, the minister added.

"Now we can offer for export processed softwood and hardwood sawn timber and manufactured wood production. With stable demand, we are also ready to increase milk exports to 15,000 tonnes from 2027 and exports of organic Primorye honey to 12,000 tonnes," Blokhin said.

He also invited Chinese partners to participate in the region's housing, tourism and infrastructure projects.

The minister also extended an invitation for the Chinese delegation to attend the ninth Eastern Economic Forum, which will be held in the Russian Far Eastern city of Vladivostok in early September.    – Source: Sputnik –