HAIKOU (Pakistan Point News / Sputnik - 14th December, 2020) Russia could use China's free trade port that is being established in the island province of Hainan as an entry point for its goods into the Chinese market, the Hainan International Economic Development Bureau has told Sputnik.
The bureau has been established to attract foreign investment and provide assistance to foreign companies from across the globe.
"We are hoping that the Hainan free trade port will become a new platform for Russian goods to enter the Chinese market. By taking advantage of the 'zero-tariff' policy, Russian branded products could enter the Chinese market through the Hainan free trade port," the bureau said.
The bureau added that it was ready to provide service for Russian investors and had invited Russian businesses to participate in China's first international consumer goods fair scheduled for May 2021 in Haikou.
"The construction of the Hainan free trade port has opened opportunities for Hainan's cooperation with Russia. The sides could promote cooperation in the areas of energy, aviation as well as in the areas of culture, port and many others," the bureau stated.
In 2018, on the province's 30th anniversary, Chinese President Xi Jinping announced the creation of a free trade zone and port in Hainan. In June 2020, the Chinese government released a roadmap for making Hainan a major international trade hub by 2050.
