China’s COFCO to open representative office in Russia’s Far East

VLADIVOSTOK, Dec 14 (PRIME) -- China National Cereals, Oils and Foodstuffs Corporation (COFCO), its largest producer and supplier of foods, plans to open a representative office in Russia’s Far East, the Primorksy Region’s government said in a statement on Wednesday.

COFCO Vice President Chi Jingtao said during a meeting with the region’s head Vladimir Miklushevsky that the company has already defined directions for investments in the region. The most promising sector is production and processing of soy beans into isolated soy protein. This will also allow the company to eliminate logistics difficulties of buying soy beans in South and North Americas, he said.

COFCO is also interested in exports of meat products and bottled water from the region, and it is also ready to study investments in the hotel business in the Primorsky Region. “We have decided to register our company in Russia’s Far East and to discuss joint projects more substantively,” he said.

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