First private overseas trade & economic zone in Russia

22 Mar '07

2 min read

'China-Russia years' accelerated the birth of China's first private overseas trade and economic cooperation zone, Russian Ussuriysk (China) Trade and Economic Cooperation Zone.
Recently, KANGJI Industry Company Limited, in charge of the operations of the zone, official completed its registration in Russia. Sino-Russian non-governmental trade relations will enter a new mode of cooperation.

In an effort to ease gradually increased trade barriers and trade disputes, starting from 2006, China's Ministry of Commerce began promoting the building of eight economic and trade cooperation zones in Thailand, Pakistan, Zambia, Cambodia, Russia and other countries.

China's first overseas trade and economic cooperation zone is the only trade and economic cooperation zone developed by private enterprises. Kangnai Group Co in Wenzhou, Zhejiang is the bellwether with investment of 2 billion yuan to develop Russian Ussuriysk (China) trade and economic cooperation zone.

The zone covers 2.28 million square meters, with building area of 1.63 million square meters. After completion it will be divided into four parts, such as production and processing area, commercial area, logistics and warehousing area, living area.

By then, more than 60 Chinese enterprises will move to settle in the zone, mostly from Wenzhou in business of footwear, apparel, home furniture, wood, building materials, automobiles, home appliances, smoking set, leather, etc. thus realizing the gradual shift of Chinese prominent industries from home to outside places.

Fibre2fashion, News Desk - China

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