China-Russia high-level political dialogue has bolstered the two countries' cooperation in Russia's Far East, an expert told Xinhua in a recent interview.
The deepened China-Russia political ties, geographical proximity and mutually complementary markets, among other factors, have also contributed to the active win-win cooperation between the two neighbors in Russia's Far East area, said Sergei Ivanov, an expert from the Far-Eastern branch of the Russian Academy of Science.
"Cooperation between Russia and China has more than one dimension. The most visible edge of it is a political dialogue," said Ivanov, citing that over the last 20 years the political dialogue has been developing successfully, among mechanisms of bilateral cooperation in other fields.
For years, the two countries have effectively implemented a mechanism of regular meetings between their government heads and organizations, such as committees, subcommittees and working groups involving in almost all areas of bilateral cooperation.
"Both countries are actively cooperating on international issues... These have been reflected in the pairs' cooperation whthin the United Nations, in joint development of international organizations including BRICS, Shanghai Cooperation Organization," Ivanov added.
According to the expert, China-Russia high-level political dialogue has contributed to implementation of Russian Far East's major projects, including resource development projects, such as the Eastern Siberia-Pacific Ocean oil pipeline, "Power of Siberia" gas pipeline, cooperation in "Sakhalin-3" project under the oil and gas agreements, and the expansion of electricity supply over the Amur River (the Heilongjiang River) to China.
Chinese business people have also actively participate in the Far East's agriculture. Chinese mid-sized companies, which have been operating in the Far East more than a year, have a permanent land fund for long-term lease. The region's agriculture industry has a great potential for investment cooperation, said Ivanov.
Investment cooperation in spheres, including forestry and fishery, is very perspective from the business development point of view, noted the expert. Several Chinese companies in Russia's Jewish Autonomous Oblast, Primorsky Krai and Zabaykalsky Krai, planned to create woodworking industry clusters or pulp and paper mills.
Talking about economic relations between China and Russia in Russia's Far East, the expert said, "First, the two countries should not invest in projects which have no chance to get economic entities' financial support. Second, they need to work consistently on improving political and legal conditions for projects' development implemented by small and mid-sized enterprises."
Ivanov added that a whole set of development institutions have appeared in the region in recent years. For instance, the special economic zones in the form of Advanced Development Territories (ADT) and a free port of Vladivostok have been established.
Moreover, the bureaucratic institution of development in the form of a special ministry, the State Corporation for the Far East's development as well as a set of regional agencies designed for increasing exports and attracting foreign investment have been created.
Finally, financial development institutions have also emerged, such as the Far East Development Fund or the Russian Direct Investment Fund, which is actively cooperating with the China Investment Corporation in financing projects of the Far East.
