Rustam Minnikhanov: In recent years, China has become a key foreign investor in the economy of Tatarstan

On August 19, speaking at the plenary session of the III forum of Russia-China cooperation “ROSTKI” at the Kazan Expo Exhibition Center in Kazan with participation of Russian Minister of Industry and Trade Anton Alikhanov, the Counselor of Russian President, Special Representative of the President for International Cooperation in the Sphere of Transport Igor Levitin, secretary of the Hubei Provincial Committee of the Chinese People's Political Consultative Conference Sun Wei, Ambassador Extraordinary and Plenipotentiary of the People's Republic of China to the Russian Federation Zhang Hanhui and the Chairman of the Union of Chinese entrepreneurs in Russia Zhou Liqun, the Rais (Head) of Tatarstan Rustam Minnikhanov stated that in recent years, China became a key foreign investor in the economy of the republic.

Alikhanov emphasized that for many years China has been Russia’s leading foreign trade partner. «A record volume of trade turnover was achieved last year - almost 245 billion US dollars. Russia ranked seventh in China’s major trading partners. At the same time, our turnover is balanced - exports and imports are comparable in volume», Russian Minister of Industry and Trade stressed. Among the priority sectors for cooperation, the Minister highlighted civil aircraft construction, automotive industry, radio electronics industry, chemical industry, metallurgical industry. He also paid special attention to the interaction in the congress and exhibition sphere.

Minnikhanov said that in recent years, the Russian-Chinese relations, the history of which lasts more than 400 years, have reached an unprecedented level of trust and mutual understanding.

He stressed that today joint projects are being successfully implemented in energy, industry, high technology, transport, agriculture and other areas. Minnikhanov thanked Vladimir Putin and Xi Jinping for supporting cooperation at the regional level. He noted the major role of interregional cooperation in the development of Russian-Chinese relations.

The Rais (Head) of the republic emphasized that Tatarstan has signed 8 agreements with Chinese provinces. This year, the Tatarstan delegation visited Chongqing, and an action plan for implementing the agreement was signed. Tatarstan's foreign trade turnover with China exceeded 3.3 billion US dollars last year. Joint projects are developing steadily.

He stated that the share of Chinese investments in the structure of foreign investment in Tatarstan over the past year exceeded 80 per cent.

The largest Chinese project is being implemented in Naberezhnye Chelny. Last year, the sixth household appliances plant was launched here, and today work is underway to create its own industrial technology park.

Minnikhanov noted that today the goals are to further integrate the economies and innovation ecosystems of the two countries.