CHINA-RUSSIA GRAIN CORRIDOR STABILIZES THE GLOBAL MARKET
2023-11-07 12:18
The creation of a grain corridor by China and Russia will have a stabilizing effect on the global market, the Global Times writes.
The new Russia-China Overland Grain Corridor - a group of companies managing grain production and infrastructure development in the Urals, Siberia and the Russian Far East - will work with PRC-backed China Chengtong International Investment to create a logistics hub located between Vladivostok and the northeastern Chinese province of Heilongjiang.
As the publication notes, amid tight grain supplies around the world, there is a growing need for China and Russia to develop their trade cooperation on grain, which is of great importance to China's food security.
The publication also notes that cooperation between the two countries is an effective way to stabilize global food supplies and food security.