Agricultural cooperation between Russia and China has been praised as a successful example of strategic cooperation and strengthen bilateral relations
Agricultural businesses across China and Russia are part for a larger bilateral agreement between the two countries, estimated to worth around US$200 bn, according to Premier of the State Council of China, Li Keqiang in Sputnik News.
China is expected to benefit from Russia's over production of sugar in 2016. Vadim Moshkovic, owner of the Rusagro, has said "for the first time ever the Russian Federation will export sugar this year. Russia will not only cover its demand, there will be a one million surplus.' The full quote is available on Pravda Report here.
Russia's Vnesheconombank (VEB) also signed an agreement with China's Development Bank to borrow six billion yuan. VEB head Sergey Gorkov spoke to Russia Today, who has said that 'The Chinese are interested in timber, agriculture, mining and nonferrous metal industries.' Therefore, these bilateral ties that appear to continue to strengthen, may continue in the agricultural sectors.
While most of the investment is following from China into Russia, the Chinese are benefiting from the Russian import market, particularly in agriculture. It is estimated, according to CRI, that 30 per cent of Russian exports to China are contributed by agriculture.
Co-chair of the Russian-Chinese Committee of Friendship, Peace and Development has said that the agricultural industries in the two countries are complementary. ""The pollution-free agricultural products from Russia have very good sales in China. China is currently one of the world's major food importers. More and more Russian agricultural goods are entering the Chinese market while at the same time, many Chinese companies have come to Russia to invest in our agricultural sector."
