Chinese-Russian Legislators Promote Joint Far East Development

February 3, 2013 in Top News, World News

Wu Bangguo and Valentina Matviyenko

Wu Bangguo (L), chairman of the Standing Committee of the National People’s Congress of China, shakes hands with Valentina Matviyenko (R, Front), chairwoman of Russia’s Federation Council, in Vladivostok, Russia, Jan. 28, 2013. Source: Xinhua/Liu Weibing.

Key legislators representing China and Russia met Monday, Jan. 28 at the 21st annual forum of the Asia-Pacific Parliamentary Forum. Lawmakers plan to discuss and promote cooperative mutual investment strategies in Far East Development. That’s according to Shanghai-based media company SINA.

Also on Jan. 28, senior Russian legislator Valentina Matvienko said at a meeting with Wu Bangguo, chairman of the Standing Committee of the National People’s Congress of China, that Russia is open to shared investment and partnership in developing the vast Siberian and Far East region. Speaking as president of the forum, Matvienko said the resource-rich Far East will become “an impetus for Russia’s future growth” and highlighted that Russian government has been drawing a blueprint for boosting its Far East region, which will include a number of measures and steps to attract investors.

“Special favorable programs will be introduced to foreign investors. We expect a lot of investment will flow into the region,” said the Matvienko. “We need to develop airports, aviation industry, railways, roads. All of these areas are of great [interest] to a lot of foreign investors, including China,” she said.

Matvienko emphasized particularly the large-scale development program planned will demand huge amounts of investment into infrastructure, energy and transportation projects. China’s investment in Russia registered an 11-percent year-on-year increase last year.

“We hope this increase will be even bigger this year,” said Matvienko.

Both Wu and Matvienko pledged to strengthen bilateral ties during a meeting on Jan. 28. To forge the China-Russia comprehensive strategic partnership of coordination is a “strategic decision” made by the leaders of the two countries, Wu said. The top Chinese legislator added that the current partnership is stable and mature with a high level of strategic coordination and rich connotation. Frequent exchanges and efficient cooperation between China’s National People’s Congress and Russia’s Federation Council and State Duma have promoted the two countries’ strategic partnership.

Enterprises and local governments from both sides should enhance mutually beneficial cooperation in such fields as high-tech, infrastructure construction, energy and resources, and enlarging mutual investment, Matvienko said. She also added Russia is willing to create a favorable environment for investors. The Russian government and parliament spoke highly of Wu’s outstanding contribution to boosting bilateral ties, especially relations between the two legislative bodies, Matvienko said.