REC and Jinzhou Port Agree to Foster Russia-China Cooperation

The Russian Export Center (REC, part of VEB.RF) and the Jinzhou Port Co. Ltd., a China-based company principally engaged in port cargo loading and unloading material warehousing and related logistics operations, have reached an agreement to cooperate to increase trade between Russia and China.

The memorandum was signed on the sidelines of the 3rd Forum of Interregional Cooperation between Russia and China within the framework of "Innoprom". Veronica Nikishina, CEO of REC, and Liu Hui, president of Jinzhou Port Co. Ltd. signed the document.

"China has traditionally been Russia's largest trading partner and the Port of Jinzhou is the northernmost deep-water port in China and the closest to the Russian border. The agreement with the Port of Jinzhou is another step in expanding our logistical capabilities and providing an additional impetus to the development of trade with China," Nikishina said.

"As one of the most convenient ports for Russian exports and imports, Jinzhou Port intends to take full advantage of its geographical location. Hand-in-hand with the Russian Export Center, it will jointly establish new logistics corridors between China and Russia to provide logistic support for the increasingly extensive Sino-Russian trade," said Liu Hui.

"The Port of Jinzhou will offer the most favorable conditions to help a wide range of Russian companies reduce logistics costs and provide comprehensive services for logistics chains aimed at penetrating the Chinese and international markets. Through our joint efforts, we will promote the rapid and high-quality development of trade between the two countries," he added.