The largest SEZ of China, the Minister of the Economy Development of the RF and SEZ “Alabuga” discussed the development of cooperation

The presentation of the Special Economic Zone "Alabuga" took place yesterday, on August 2, in Shanghai, within the framework of the meeting of the Russian-Chinese sub-commission on Trade and Economic cooperation. The Minister of Economic Development of the Russian Federation, Maxim Oreshkin, and the Minister of Commerce of the People's Republic of China, Zhong Shan held the meeting. The members of the sub-commission supported the development of cooperation between "Alabuga" and the largest Chinese special economic zone, TEDA. The Director-General of the Special Economic Zone "Alabuga", Timur Shagivaleev, in the course of thee meeting presented the SEZ, as well as told about the project of establishing a joint venture of "Alabuga" with the PRC.

This project envisages the involvement of the strategic Chinese partner in the further development of the infrastructure of the Special Economic Zone and the attraction of new investors, especially from China. It is expected, that thjis will attract about 8-10 billion RUB of investments in the further development of the SEZ infrastructure. It is planned, that the establishment of a joint venture with the PRC will allow to attract at least 60 Chinese companies with a total scope of investments of 180 billion. RUB, to increase tax revenues in budgets at different levels by 6 billion RUB per year, to create 8000 work places.

 "For the Chinese part, the participation in this project may be interesting in terms of the prospects for entering the Russian market, getting an access to raw materials and the possibility of creating understandable and comfortable conditions for Chinese businessmen wishing to arrange production in Russia", - underlined Timur Shagivaleev. 

As a result of the meeting, the members of the sub-commission adopted a protocol, which separately identified the ways of developing cooperation on the issues of special economic zones. The sub-commission supported the development of cooperation between the SEZ "Alabuga" and the Tianjin Zone of economic and technological development TEDA, in its turn the Russian part invited the representatives of the Ministry of Commerce of the PRC and TEDA to visit "Alabuga".

The SEZ of Industrial and production-type "Alabuga" was established in 2005. 63 companies are its residents. The priority areas of its activity are - car building, automotive components, instrumentation and petrochemicals.