Friendship Diary: Chinese city hosts Russia-Zibo conference

BEIJING, Aug. 14, 2023 /PRNewswire/ -- A news report from chinadaily.com.cn:

A Russia-Zibo Economic and Trade Discussion Conference was held in the international business hub – located in Zibo, Shandong province – on Aug 5.

The aim was to strengthen bilateral cooperation between Zibo and the Republic of Buryatia, Russia.

The conference witnessed the signing of a strategic cooperation framework agreement between the export support center of Buryatia and the China Council for the Promotion of International Trade Zibo Committee.

The Russian delegation to the conference – made up of representatives from international trade and energy companies in Buryatia – held in-depth talks with key figures from Zibo's business community.

The conference covered a wide range of topics – including timber, big international transport logistics, coal, pharmaceuticals, food and tourism.

Forty-five companies from Zibo's light industry, pharmaceuticals, chemicals, heavy machinery and other key sectors participated.

According to Zibo Customs, Russia is the second-largest trading partner of the city. Last year, the total value of the import and export trade between Zibo and Russia surged 65.8 percent year-on-year to 15.85 billion yuan ($2.22 billion). Exports totaled to 2.54 billion yuan, while imports came to 13.31 billion yuan.

Zibo maintains close relations with Russia. On June 9, an online economic and trade cooperation exchange was held between China and Russia – with over 200 companies from the city engaged in procurement discussions with more than 40 Russian companies and buyers.

What's more, the Zibo Committee of the China Council for the Promotion of International Trade organized for a delegation to go to Russia on June 18-22 for a series of economic and trade exchange activities, resulting in a raft of preliminary trade agreements.

On July 18, a Buryatia delegation visited the Zibo committee – engaging in talks on commerce in such areas as new materials.

The Zibo international business hub – set up by the city's international trade promotions committee and launched in March – has held more than 100 international fairs and activities and has attracted enterprises and merchants from over 50 countries and regions.

Several Zibo businesses and residents also sought cooperation opportunities and bought goods at the international business hub. It is widely said to have become a new window for Zibo to open to the international market.

Zibo, approved as a Shandong Peninsula economy opening zone city by China's State Council, holds local legislative power and covers 5,938 square kilometers.