World meat industry news

The prospects for the development of Russian business in Asia and the extent to which restrictive measures on the part of Western countries can be compensated through cooperation with China was devoted to the meeting of the Council of the Chamber of Commerce and Industry of the Russian Federation for Foreign Economic Activity “Russia and China: new frontiers of cooperation”, held on March 1 at Ilyinka.

At his opening remarks Andrey Spartak, Chairman of the Russian Chamber of Commerce and Industry Council for Foreign Economic Affairs, Director of the All-Russian Research Market Institute, stressed the importance of exploring opportunities to receive additional income to the country's budget through cooperation with China.

Andrei Spartak noted that China, as the world's leading economy and Russia's largest trading partner, remains an extremely attractive market for realizing the export potential of domestic companies, expanding and diversifying the export of Russian goods and services. In the current market situation, the role of China as the largest market in Southeast Asia has especially increased.

Andrey Zelenev, Deputy Director of the Department for the Development of Bilateral Cooperation of the Ministry of Economic Development of Russia, informed the participants about the situation in trade with China and the prospects for its development. He also spoke about the main areas of work envisaged by the Russian-Chinese "road map" to increase Russian-Chinese trade in goods and services. As you know, the road map was adopted on February 4, 2022 following the Russian-Chinese summit in Beijing.

Maxim Fedotov, Senior Expert on Export Promotion to the Asia-Pacific Markets of the Russian Export Center (REC), spoke about the results of export support for the past 2021, as well as the infrastructure created in China. In 2022, it is planned to take part in three exhibitions in China - in May (for agricultural products), in September (jewelry products) and in November. Applications for participation are accepted on the REC website.

The Deputy Director for Research of the Federal State Budgetary Scientific Institution “National Research Institute of World Economy and International Relations named after E.M. Primakov of the Russian Academy of Sciences" Alexander Lomanov. In particular, he noted the role of the Made in China 2025 program in the development of high-tech exports, as well as the impact of the import substitution program on trade with Russia. He also informed about the release of the Chinese government's white paper on the export control mechanism.

Kirill Babaev, a representative of the Institute of the Far East of the Russian Academy of Sciences, believes that in the current situation, entire sectors are opening up for cooperation with the East. And in this regard, the government will look for a replacement for the western direction. In his opinion, China's "double circulation" policy opens up great opportunities for the Russian economy. “In those industries where Western companies leave, Chinese investors will come,” he said. In his opinion, the Chamber of Commerce and Industry of the Russian Federation can play "a big role in establishing these initiatives."

The speakers noted that China's share in Russian foreign trade would increase "taking into account recent events" and highly appreciated the great potential for cooperation in national currencies. The participants of the discussion discussed current problems and prospects for their solution in the field of transport and logistics, financial cooperation in the framework of export-import supplies, export of agricultural products to China, got acquainted with the legal aspects of working in the Chinese market.

Video recording of the meeting is available here: https://youtu.be/zmvNZlUgQGw.