Dmitry Patrushev meets COFCO Chairman Lv Jun
The Minister of Agriculture of the Russian Federation Dmitry Patrushev held a working meeting with the head of China's largest food holding COFCO Coropration Lv Jun at the St. Petersburg International Economic Forum. During the meeting, the parties discussed the development of trade in agricultural products between Russia and China, as well as the implementation of joint investment projects.
Dmitry Patrushev noted that despite the growth in bilateral trade, the volumes and product range supplied from Russia to the Chinese market do not reflect all potential opportunities, while the Russian Federation is ready to provide foreign partners with high-quality and competitive products.
In order to further increase exports, the Minister proposed initiating a negotiation process with the State Committee of the PRC on Development and Reform and to consider increasing the import quotas of COFCO for the supply of Russian wheat, corn and sugar.
The parties also discussed Russian export of oil and fat products, including soybeans. The agreements concluded on June 5 within the framework of the Russian-Chinese summit-level agreement allow organizing the supply of soybeans from the entire territory of Russia. The Minister also outlined the readiness of Russia to implement joint investment projects for the production, processing and transportation of soybeans to the Chinese market. One of such projects for non-GMO soybeans production is already being launched in the Saratov region with the support of the Ministry of Agriculture of the Russian Federation.
At the end of the meeting Dmitry Patrushev expressed hope for the further development of cooperation between the two countries in agricultural products turnover and food trade.