The Far East and Arctic Development Corporation and the Federal Agency for Sea and Inland Water Transport signed an agreement on the sidelines of the 10th Eastern Economic Forum. Under this document, they will jointly facilitate the comprehensive development of the Far Eastern and Arctic transport and logistic complex, including the high-seas and inland navigation infrastructure, as well as that of the Northern Sea Route.

The agreement prioritizes the development of high-seas and inland navigation, including the Northern Sea Route, and attracting investment for infrastructure projects. Notably, this will be accomplished using mechanisms of preferential regimes of priority development territories, the free port of Vladivostok, the Arctic zone of the Russian Federation and public-private partnership.  There are also plans to boost the capacity of ports and to set up multi-mode logistic centers.

The sides agreed to jointly improve the investment climate and to expand freight traffic volumes via high-seas and inland shipping lanes, including the Northern Sea Route. Additionally, they will integrate Far Eastern and Arctic transport corridors. Joint working groups will be established for implementing the agreement; their members will exchange experience and offer expert advice on specific projects.

“Logistics and transportation top the list of activities of residents of priority development zones, the free port of Vladivostok and the Arctic zone of the Russian Federation. Over 560 residents implement projects in this sphere; they invest 1.4 trillion rubles into the national economy and create over 60,000 jobs for Far Eastern and Arctic residents. Our joint work with the Federal Agency for Sea and Inland Water Transport will focus on creating modern and cost-effective logistics with the help of private capital and state support measures. This, in turn, will create additional growth points for the entire macro-region’s economy,” General Director of the Far East and Arctic Development Corporation, Nikolai Zapryagayev, noted.