Moscow, Beijing Sign Cooperation Agreement
- Moscow-Beijing annual trade worth US$20 billion
- Cities connected via Trans-Siberian railway
- Agreement to develop city infrastructures, health programs and expand trade
Moscow’s Mayor Sergei Sobyanin and the Mayor of Beijing, Chen Jining have signed a program of cooperation between Moscow and Beijing city authorities for 2021-2023. It is planned to exchange best practices of the two capitals in fighting Covid-19, developing their metro systems, sharing urban planning knowledge, promoting mutual tourism, and other activities including the development of bilateral trade, the press office of the Moscow mayor stated on Monday.
The program also includes the creation of a database of industry-specific experts in particular sectors to exchange scientific and technical talents; the development of cooperation in humanities by means of exchanging instructors, students, and schoolchildren, organizing joint study and research; sharing best practices in the city transportation management, transportation planning for the Beijing 2022 Winter Olympic Games, and exchanging solutions concerning the control and prevention of pandemics, treatment and diagnostics.
“The bilateral relations between Moscow and Beijing are built on the basis of the agreement to establish friendly partner relations of May 16, 1995. During the anniversary forum dedicated to this date, the staff of the city administrations of the two capitals will discuss the opportunities of joint projects in the spheres of innovation, science, economy, and transport. It is also planned to sign an agreement on cooperation between Moscow and Beijing subways for another five-year term. Within the framework of this agreement the specialists will continue to share regularly their expertise in the infrastructure development and implementation of cutting-edge technologies in the subway,” the press service added.
Bilateral trade between Moscow and Beijing during the first 9 months of 2020 has grown by 10% compared to the same period in 2019 and totaled US$20.5 billion, including US$1.46 billion of exports from Moscow and US$19 billion of imports from China. Total bilateral trade between the two countries in running at about US$110 billion and is expected to double by 2024.
Beijing’s lead follows that of Hainan Island to the south, which has also laid out plans for welcoming Russian investors, many of whom use the destination as a winter sun resort. We further discussed what products and services Russian investors can sell to China in this article here.
Dezan Shira & Associates provide services to Russian businesses in China, and have 13 offices across the country including Beijing, Shanghai and Hong Kong. Please contact Maria Kotova at email@example.com for assistance.
- China-Russia Economic & Trade Index 2020 Report Released
- Russia’s Involvement With China’s Belt And Road Initiative: Interview With Chris Devonshire-Ellis
During these uncertain times, we must stress that our firm does not approve of the Ukraine conflict. We do not entertain business with sanctioned Russian companies or individuals. However, we are well aware of the new emerging supply chains, can advise on strategic analysis and new logistics corridors, and may assist in non-sanctioned areas. We can help, for example, Russian companies develop operations throughout Asia, including banking advisory services, and trade compliance issues, and have done since 1992.
We also provide financial and sanctions compliance services to foreign companies wishing to access Russia. Additionally, we offer market research and advisory services to foreign exporters interested in accessing Russia as the economy looks to replace Western-sourced products. For assistance, please email firstname.lastname@example.org or visit www.dezshira.com