July 9 2024

In 2023, Chinese companies made the first eight voyages along the NSR

Chinese companies have been invited to joint development of the Northern Sea Route (NSR), construction and insurance of ships for the NSR. This proposal was made during the fifth meeting of the intergovernmental Russian-Chinese commission on cooperation and development of the Russian Far East and the Northeast of China. The meeting in Vladivostok was held by Deputy Prime Minister of the Russian Federation – Plenipotentiary Representative of the President of Russia in the Far Eastern Federal District Yuri Trutnev and Deputy Premier of the State Council of the People’s Republic of China Zhang Guoqing, the press service of the Far East and Arctic Development Corporation (FEACDC) reported.

It is noted that in 2023, companies from the PRC made the first eight voyages along the NSR. “We are grateful to our colleagues for choosing our northern route and look forward to further development of this cooperation. We believe that, given all the efforts made, in a few years the Northern Sea Route will become a popular and reliable transport corridor from Europe to Asia. We also invite you to work together on the development and arrangement of the Northern Sea Route, the construction of an ice-class merchant fleet, and the insurance of ships and cargo moving along the NSR,” Yuri Trutnev proposed to the Chinese side.

During the meeting, the joint development of Bolshoy Ussuriysky Island was also discussed. Its development concept was signed during the state visit of the Russian President to China. “In accordance with the concept, a cargo and passenger cross-border passage will be built. An international cooperation center and tourism infrastructure will be created on the island. We expect that by 2030, cargo turnover through the island will reach 1.3 million tons, and passenger traffic – 1.4 million people,” explained Yuri Trutnev.

According to the data announced during the meeting, the trade turnover between the Russian Far East and China has doubled in ten years and reached 2 trillion rubles in 2023. Last year, China’s import of agricultural products from the Far East increased by 36% to 1.29 thousand tons, which, according to Zhang Guoqing, is a historical maximum. The total trade turnover of agricultural products between China and Russia in 2023 increased by 33% and amounted to more than $11 billion.

In addition, it was noted that 51 investment projects with a total investment of 817 billion rubles are being implemented in the preferential regimes of the Far East with the participation of Chinese capital.

Source: https://portnews.ru/news/365165/