Russia: agricultural special economic areas involving Asian nations may emerge in the Far East
2014-01-02 11:05:49
Agricultural special economic areas (SEAs) may emerge in the Far East, participation in which will interest Asian nations, Vedomosti reported quoting Russian deputy economic development minister Oleg Savelyev.
Talks about creating the first SEA are underway with representatives of Japan, who have already conducted trial planting of soybeans and buckwheat in Amur region.
Japan, Korea and China, according to O. Savelyev, are interested to cooperate with Russia due to the lack of own crop cultivation areas.
The initiator of the pilot agro-industrial special economic area was Hokkaido Bank, which is now forming an investor pool of Japanese companies and preparing concrete proposals for creating a special economic area in Khabarovsk and Primorye regions.
Numerous Chinese farmers work in the Far East already now, leasing or controlling at least 600 Th ha of land. Therefore the coming of investors from Japan and Korea would enable Russia to broaden the range of investors and reduce risks.
In addition, the appearance of an agricultural SEA, where grain will be grown for export, may benefit both Summa Group and the United Grain Company (UGC). Summa is planning to build grain terminals at the port Troitsa and UGC at Vostochny.