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Russia's Kamchatka, Germany to Sign Joint Project Deal at EEF

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Authorities of the Russian Far Eastern Kamchatka peninsula are planning to sign an investment agreement with a German company on a joint tourism project at the upcoming first Russian Eastern Economic Forum (EEF), Vladimir Ilyukhin, the acting Governor of Kamchatka Territory, said Tuesday.

VLADIVOSTOK, (Sputnik) — The EEF will be held in the city of Vladivostok in the Russian Far East on September 3-5.

The forum is being held as a platform for dialogue between international investors, the Russian government and countries of the Asia-Pacific Region. Over 200 investment projects valued at over $70 billion are expected to be presented at the forum.

"At the forum, we plan to sign an investment agreement with the German company West-Woods Bau Consulting Projekt Management GmbH on a joint 2015-2021 Tourist Complex 'Petrovskaya Sopka' [Petrovskaya Hill] project," Ilyukhin said.

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In addition, the Governor said he expected to sign agreements with the Export Insurance Agency of Russia (EXIAR) on cooperation in foreign economic activity.

In August, Russian Prime Minister Dmitry Medvedev signed a decree establishing a Priority Development Area (PDA) in Kamchatka. This particular PDA plan will be presented to investors at the Eastern Economic Forum together with eight other PDAs approved earlier.

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