BREAKING

Putin requests study of conclusion on grain project with China

By Al Mayadeen English
Source: Agencies
10 May 2023 19:47

The intergovernmental agreement with China is titled "New Land Grain Corridor Russia-China."

A view shows the Kremlin in Moscow, Russia April 20, 2020. (Reuters)

The Kremlin said on Wednesday that Russian President Vladimir Putin requested the Cabinet and the Central Bank of Russia to undertake an assessment of the conclusion of an intergovernmental agreement with China involving the increase in the production and exports of Russian grain.

"To the Government of the Russian Federation in order to accelerate the pace of implementation of infrastructure projects in the cities of the Far East: to consider the conclusion of an intergovernmental agreement between the Russia and the People's Republic of China on the project 'New Land Grain Corridor Russia-China' in order to increase grain production in the territories of the Far Eastern, Ural and Siberian Federal districts, as well as the volume of its export to the market of the People's Republic of China," a document issued by the Kremlin read.

The execution of the order is scheduled for October 1, 2023.

The New Land Grain Corridor program is led by a conglomeration of companies named the New Land Grain Corridor Group of Companies. The project receives the support of the Chairman and the Government of the Russian Federation, the Russian-Chinese intergovernmental commissions, and the Eurasian Economic Commission.

The New Land Grain Corridor project has been discussed several times by both Russian and Chinese leaders as part of the Eurasian Union and the Silk Road Economic Belt.

"Our countries are involved in establishing a new land grain corridor, which will contribute to the expansion of exports of Siberian grain to China and other countries of the Asia-Pacific region. Such diversification of transport and logistics routes is fully in line with the concept of interfacing Eurasian Union and the Silk Road Economic Belt," Putin said during a visit of Chinese President Xi Jinping to Moscow on March 21.

During their meeting, the two leaders signed two joint strategic documents aiming to boost the two global powers' economic and diplomatic partnership.