News on transboundary trade

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International investment forum on the field of Far East Federal University occurred by the late December with participation of Chinese delegations from Heilongjiang and Liaoning provinces, and Chinese Consul General in Vladivostok Piao Yangfan. From the Russian side this significant event was coordinated by deputy Chairman of Primorye government Nikolai Stetzko. Problems of logistics in developing transboundary inter-regional exchange were mainly discussed on the meetings.

As it was stated by the First Secretary of Communist Party in Suifenhe Lo Haitao, development of economic collaboration between neighboring Primorye and Heilongjiang require deep modernization of border gates at Pogranichny and Poltavka. In December track based transboudary trade was equal to $ 150 million, but, since the whole modernization will occur including electronic customs declaring, multiple magnification of this level is forecasted. Many experts state that insistent promotion of such modernization from Chinese side is caused by the need of more import of natural resources and agro products to develop economy of the northern provinces. They play outstanding role in the national plans of economics and infrastructural stabilization under ongoing global crisis. For Russia this region is also strategically crucial to deeply enter giant domestic market of China.

During consultations with deputy Chair of the Commerce Department in Liaoning Government Tiang Hung parties agreed to create Representative office of Primorye government in Dalyan to attract into Primorye more investments and more companies into existed joint agricultural projects with privileged economic regime in the Advanced Development Territories.

By the same time of late December equal questions were discussed at the national Russian level in framework of the Russian-Chinese Committee of friendship, peace and development and company “Sinorus”. It was stated there, that in 2023 Chinese producers of hi-tech electronics and cars actively developed their presence at the Russian markets, which was stimulated by establishing new ruble based export taxes since October and full electronic mode of customs procedure designated to the end of 2024. Experts also pointed out, that official weight and size limits for transboundary trade were increased in 2023 by 5 times, and some ex-im taxes reduced, which cancel a set of problems for serious traders. Giant trans-Amur bridge Blagoveschensk-Heihe, launched in 2023, with its customs-logistics terminal “Kanikurgan” should play extreme role in transboundary trade development in 2024 thanks to recently activated electronic line for “green corridor” procedure.

By Chinese customs, Russian import from China in 2023 increased by 50 % to achieve $ 100,33 billion, while Russia exported goods in the amount of $ 117,84 billion, which is by 11,8 % more than in previous year.