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Home >> Business
UPDATED: 19:45, May 25, 2007
Russian trade promotion association vows to provide conveniences for Chinese investors
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Russia will provide favourable conditions for Chinese enterprises which are investing in the country, head of a Russia-China trade promotion association has said.

Trade between China and Russia has maintained steady momentum in recent years despite some emerging problems, said Artem Semenov, chairman of the Association of National Companies Promoting the Development of Trade and Economic Relationship with the People's Republic of China (NCTC) in Beijing on Thursday.

He said the reason why some Chinese companies hesitate to invest in Russia could be because they lack knowledge of Russia's trade environment, business laws and regulations.

"Most Chinese companies are concerned about the safety of doing business in Russia. In particular, they are keen to find a reliable trade partner," said the chairman.

He said at present Chinese companies investing in Russia may encounter inconveniences on clearing goods through customs, borrowing money from banks, delivering cargos and handling legal issues.

In a bid to encourage Chinese investors, a group of Russian entrepreneurs who have long been doing business with Chinese partners established the NCTC in January this year.

The association aims to offer help on customs clearance, cargo transportation and sales, tax, insurance and corporate registration.

So far the association has registered more than 800 companies from both countries.

Semenov said the association will offer legal consultations for Chinese companies to help them avoid risks.

"That's mutual beneficial," said the chairman, "We have won the Russian government's support and will regularly contact concerned departments of both governments to protect the interest of our members and partners," he added.

The chairman spoke highly of the "Year of China in Russia" activities, saying the event has brought "substantial fruits" for bilateral trade.

"Compared with ten years ago, the business relationship between China and Russia has entered a new era," he said.

Source: Xinhua

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