The first phase of a Chinese-funded economic and trade cooperation zone that has gone into operation in Russia’s Ussuriysk. It will simplify trade procedures and provide mutual benefits. The map shows how this Russian town is so close to China and to North Korea. An ideal position for such a zone.
The zone, located in the city of Ussuriysk near the border of Heilongjiang Province in northeast China, is one of six zones to be established in foreign countries — the others are Zambia, Mauritius, Thailand, Pakistan and Cambodia.
The Ussuriysk Economic and Trade Cooperation Zone, approved by Russian and Chinese commercial authorities, covers 2.28 million sq meters.
More than 60 large and medium-sized domestic and overseas companies specializing in a large variety of manufacturing and processing industries, including shoes, apparel, timber, household appliances, automobiles and components, are expected to set up offices and plants in the zone.
Companies in the zone will enjoy preferential tax policies and comprehensive legal and logistics services including business registration, customs and land procedures and visa applications.
The first phase costing RMB400 million (US$53 million) has seen production lines of six Chinese enterprises go into full operation, making shoes, wood and furniture.
More than 500 Ussuriysk residents are working in the zone.
Russian people are expected to have more job opportunities when the project comes fully on stream in 2010.
China.com reports it will make legal what has been a long informal ‘customs clearance’ service.