China has proposed a “soybean industry alliance” with Russia as it seeks to deepen economic ties with its strategic partner –- despite its commitment to buy more of the oilseed from the U.S.
According to a report at the South China Morning Post, Commerce Minister Zhong Shan called for closer cooperation with Russia in all areas of the soybean supply chain during a videoconference with Russian Minister of Economic Development Maksim Reshetnikov on Tuesday.
Zhong also said Beijing and Moscow should “match up” the countries’ major soybean production areas and build an industry alliance, according to a statement from the Chinese ministry.
China’s proposed alliance is a gesture to strengthen cooperation with Russia, which Beijing sees as strategically important.
