Russian-Chinese Forum: New Horizons of Cooperation in Science, Technology, and Investments

Russia-China Forum: New Horizons for Cooperation in Science, Technology, and Investment

April 17 of this year was a significant event for the development of bilateral economic relations between Russia and China: the Russia-China Industrial and Investment Cooperation Forum took place. I, as the director of the Association of Organizations in the Field of Subsoil Use "National Association for Subsoil Examination" (AOON NAEN), want to share my impressions of this event.

The forum was organized by the joint efforts of the Russian Academy of Sciences, the China Overseas Development Association, and our AOON NAEN. Among the participants of the event were Dmitry Kurochkin, Vice President of the RF CCI, representatives of federal ministries and departments. They all unanimously emphasized the significance of the visit of the Chairman of the PRC Xi Jinping to Moscow in March of this year, which opened up new perspectives for cooperation between our countries.

The plenary session of the Forum was moderated by the Chairman of the China Association for the Development of Enterprises Abroad, He Zhenwei. Experts, among whom was Gao Shixian, Economic Affairs Advisor to the PRC Embassy in Russia, focused on the successfully developing trade and economic relations between Russia and China, as well as the prospect of their further strengthening. The theme was continued by Zhou Liqun, President of the Union of Chinese Entrepreneurs in Russia, and Liu Wenjun, Chairman of the Board of China Construction Bank LLC.

This Russia-China Industrial and Investment Cooperation Forum was a major step in the development of interaction between the two countries. It has opened up new horizons for cooperation in the field of subsoil use with the application of new investment and technological solutions and will contribute to the economic growth of both countries.

Firstly, the agreement signed at the forum stimulates scientific and technical cooperation between Russia and China. This will allow for the exchange of experience, advanced technologies, and innovations in the field of subsoil development and enrichment technologies, which in turn will increase the efficiency of natural resource use and reduce the negative impact on the environment.

Secondly, strengthening cooperation in the field of subsoil use creates favorable conditions for attracting investments, developing new solutions for project financing and implementation (for example, the "Russia's Subsoil" digital financial assets platform). Russian and Chinese companies will be able to jointly implement large projects related to the extraction, processing, and transportation of minerals. This will lead to the creation of new jobs, increase in exports, and mutual trade between the countries.

Thirdly, the forum promotes deeper integration between Russia and China within the framework of the Shanghai Cooperation Organization. This provides an opportunity to coordinate actions in the development and implementation of joint industrial and infrastructure strategies, which will contribute to the sustainable development of the economies of both countries.

Fourthly, cooperation between Russia and China in the field of subsoil use will contribute to the exchange of experience in the field of state regulation, legislation, and objective cost assessment of resources. This will allow the implementation of the best global practices and developments of both countries to create optimal conditions for enterprises and investors. In this matter, Russia maintains its primacy thanks to the developed Russian Code of Public Reporting on the results of geological exploration, resources, and reserves of solid minerals ("NAEN Code").

Thus, the Russia-China Industrial and Investment Cooperation Forum has a significant impact on further interaction between Russia and China in the field of new technologies, science, and economy as a whole. Cooperation at such a level will allow the creation of strong partnership ties, which will contribute to the implementation of large joint projects and the mutual exchange of advanced technologies and experience.

The increase in bilateral ties with China contributes to the diversification of the Russian economy and reduces dependence on traditional export markets. This will lead to an increase in the competitiveness of Russian companies on the international stage and strengthen the country's economic stability in the long term.

Furthermore, strengthening cooperation between Russia and China in the field of technological interaction and subsoil use will allow both countries to jointly address global issues such as climate change and biodiversity preservation. The implementation of joint projects aimed at the rational use of natural resources and the introduction of environmentally friendly technologies will contribute to achieving sustainable development goals at the global level.

The plenary session featured speeches from Sergey Glazyev, Minister for Integration and Macroeconomics, and Arzybek Kozhoshev, Minister for Energy and Infrastructure, who informed about new opportunities for Chinese investors in connection with the development of Eurasian integration. As part of the session, a Cooperation Agreement was signed between the Chinese Association for the Development of Enterprises Abroad (CODA) and our NAEN. The main goal of this agreement is to create conditions for the development and implementation of programs, projects, and activities in the field of natural resources development. An important aspect of the cooperation is identifying the investment block of potential participants in such activities with providing recommendations on their optimal composition, as well as creating specialized project, scientific and engineering centers in line with the areas of activity.

The agreement also provides for the affirmation of principles for assessing the mineral resource base, results of public reporting on reserves of solid minerals and hydrocarbon raw materials, methods of geological exploration, and setting a common geological task. Thanks to cooperation, both sides will be able to exchange experiences in the relevant technological, technical, and expert directions.

We, at NAEN, are genuinely pleased with this cooperation and are confident that it will lay the foundation for long-term partnership relations between Russia and China in the field of subsoil use. Together, we can make a significant contribution to the development of industry, investment, and science, which, in turn, will bring benefits to our peoples and strengthen the friendship between our countries.