KHARBIN COMMERCIAL FAIR VITAL FOR CHINA AND RUSSIA

KHARBIN, June 15 (RIA Novosti) - The importance of the Kharbin Commercial Economic Fair is growing with every passing year. The businessmen and authorities of Russia think it is necessary not just for China but also for Russia, said plenipotentiary representative of the Russian president in the Far Eastern federal District Konstantin Pulikovsky, who is attending the 15th Kharbin Fair in the province of Heilongjiang.

The Far Eastern Federal District has sent the largest Russian delegation of 430 members, who represent ten regions of the district, to Kharbin, said Pulikovsky. He stressed that Russo-Chinese economic ties have been growing. "We plan to increase bilateral trade to $20 bln" by 2005. "Judging by the results of the first half of 2004, this is a feasible goal." Pulikovsky believes that inter-regional co-operation will greatly contribute to the attainment of this goal.

"We have entered a new stage of bilateral relations with China not just in trade but also in co-operation in the sphere of investments and joint projects," he said. The presidential representative pointed to the special importance of the recent Russo-Chinese investment forum, which has ended in Khabarovsk, for the development of investment interaction. Investment contracts to the tune of $700 mln were signed on the first day of the forum and the overall sum of treaties and agreements of intention was more than $2 bln.

The goal of the Russian Far East is to reinforce this trend in Kharbin. "We will demonstrate not just our products in Kharbin but also investment projects," said Pulikovsky. In all, the Far Eastern Federal District will present 64 investment projects at the Chinese fair, he said.

According to Pulikovsky, the Amur Region presented a project for the production of soy beans in the region, and the Republic of Sakha - Yakutia, a brown coal project. Kamchatka offers joint production and processing of cialite ores and development of mineral deposits with China and other neighbouring countries. The Khabarovsk Territory presents projects in the production of optical fibre cables and paper mills. The Maritime Territory offers mining and metallurgical projects, gem cutting, and the construction of fishing vessels. Sakhalin invites Chinese partners to build hotels, fish farms and fish-processing enterprises.

Each project is presented by enterprises and business quarters, as well as by representatives of the concerned administration, said Pulikovsky. This is our way of demonstrating a desire to develop the close interaction of business and authorities.