BRICS summit to open new chapter in Russia-China regional cooperation

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The Republic of Karelia in Russia's northwest and east China's Fujian Province are expected to sign an agreement during the upcoming BRICS summit that could significantly increase trade between the two, Karelia's top official said.

"Currently, the preparation for the establishment of a friendly and cooperative partnership between the two sides has entered the final stage. Hopefully, we will sign the agreement during the BRICS summit and start to carry out joint projects as soon as possible," Artur Parfyonchikov, acting head of the Republic of Karelia, told Xinhua in a recent interview.

The Ninth BRICS Summit to be held in early September in Fujian's resort city Xiamen, under the theme of "BRICS: Stronger Partnership for a Brighter Future," will be the first summit among the BRICS members in the second "Golden Decade" of the multilateral organization.

Chinese Foreign Minister Wang Yi (C) along with his counterparts from the BRICS countries at a joint press conference during the Meeting of BRICS Ministers of Foreign Affairs in Beijing on June 19, 2017. /MOFA Photo

Plans for expanding cooperation between Karelia and Fujian are based on their multiple similarities, Parfyonchikov noted.

Geographically, both are border regions. Economically, the two regions boast of rich resources in forestry, mining, tourism and other fields, and enjoy similar priorities in their respective country's national economic policy, which guarantees great potential for cooperation, he explained.

Joint projects in non-traditional industries including automation machinery, information technology, culture and education are also being explored by the two jurisdictions, he added.

In addition, the acting commissioner said Karelia has great advantages in attracting foreign investment and tourists, highlighting its well-conditioned railways, maritime and other transportation infrastructure, which efficiently connect the region to major cities like Moscow, St. Petersburg and Murmansk as well as neighboring Finland.

Shanghai Mayor Yang Xiong (R), Chinese Finance Minister Lou Jiwei (M) and K.V. Kamath, president of the New Development Bank (L), celebrate together as the New Development Bank, more commonly known as the BRICS Bank, was officially launched in Shanghai on July 21, 2015. /Xinhua Photo‍

At present, Karelia is in talks with Chinese authorities to develop tourism projects and routes for Chinese tourists, according to Parfyonchikov.

Recalling the Beloporozhskaya hydropower plants project in Karelia launched in October last year, the first project in Russia financed by the New Development Bank, Parfyonchikov said it set an example for the pragmatic cooperation within the framework of BRICS.

Parfyonchikov also expressed his confidence in future prospects for comprehensive cooperation among the BRICS countries, saying that BRICS provides its member countries with an efficient platform for dialogue and consultation.

Source(s): Xinhua News Agency