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BEIJING, Sept. 5 (Xinhuanet) -- China has sent the largest delegation to a new economic forum being held in Russia's far east - with trade deals worth tens of billions of dollars on offer. Some 1500 foreign delegates from 24 countries are attending Russia's first Eastern Economic forum in Vladivostok. The Chinese delegation is led by Deputy Prime minister Wang Yang and includes representatives from 150 companies and governors of China's south-east regions on the border with Russia.
Russia's first Eastern Economic Forum in Vladivostok aims to lure investors to the far east of Russia, the development of which has been declared a national priority goal.
Russian officials say they want to offer preferential conditions to the participants of the forum.
Some 200 projects with an investment volume worth 70 billion dollars are to be presented at the event, from sectors including urban development and infrastructure, mining, timber industry, agriculture and transport
Russian President Vladimir Putin is expected to travel to the forum after his visit to China and to address its participants. The Kremlin says President Putin's speech will focus on investment opportunities in the Far East.
Russia's currency, the rouble, has lost more than 50 percent of its value against the dollar and the euro in just a year following a drop in global oil prices and Western sanctions. Observers in Moscow say that while the country's Far Eastern region presents multiple opportunities, some questions about the security of investments still remain.
They say that Russia's Far East desperately needs adequate infrastructure - and that it lacks a legal framework to allow for secure investment.
Russia's Far East Development ministry says it expects around 70 agreements to be signed during the forum, which ends on September 5th.
These include deals on power, in agriculture and in oil and gas.
Many of the agreements are to be signed between Russian companies and South Korea's Ministry of Industry, Trade and Energy as well as the Export-Import Bank of Korea.
(Source: CNTV.cn)
