(Yicai Global) Aug. 2 -- China hopes it and Russia can fully unlock the potential of their soybean cooperation, continue to promote an industrial chain and foster a stable long-term market-based cooperative environment, Gao Feng, spokesman for China's Ministry of Commerce, said at a press briefing yesterday.

Soya cooperation between the two Asian neighbors now focuses on Russia's Far East. China would welcome active development of China's cooperation with the bean-growing area of European Russia, including spurring exports from there to coastal provinces with relatively strong processing capabilities, Gao said. 

China is eager to strive jointly with Russia to steadily expand market access and further develop comprehensive cooperation in cultivation and processing of aquacultural and agricultural produce, he stated.  

China has extended the China-bound Russian-produced soy import zone to span the entire border length and to include seaborne transit, the country's General Administration of Customs announced July 25. 

The country brought in 817,000 tons of Russian soya last year in an almost 65 percent annual rise and had imported 4,400 tons transported by sea alone as of last month, media reported.

Editor: Ben Armour