(Yicai Global) Nov. 22 -- Russia, China's sixth-biggest importer of soybean, could leverage China's urgent need of the crop by enhancing its business environment, according to a Chinese official.

Russia could improve the efficiency of customs clearance and secure convenient conditions for Chinese investors in Russia, Heilongjiang Daily reported yesterday, citing Wang Xianhua, deputy director of northeastern Heilongjiang province's commerce department. Wang spoke at a bilateral soybean trade meeting in Harbin that was attended by nearly 200 firms.

Last year, Russia bolstered soybean exports to China by 67 percent to 817,000 tons, which was still just a fraction of China's total tally of 88 million tons of the livestock feed. China used to buy most of it from the US but since last year, it has increasingly turned to other countries such as Brazil.

Russia could enhance its business environment by providing more local labor force and facilitating Chinese bidders' participation in agricultural auctions, Wang said, adding that the two countries could also explore partnering in soybean breeding.

The intentions align. Russia is looking to strengthen cooperation and introduce Chinese advanced technologies in organic soybean production and processing, said Volakov Andrey Vladimirovich, a representative of the Russian Soybean Union's Far East division.

China has done its part, according to Wang. Heilongjiang, the main gateway for Russian soybean to enter China, has taken measures to broaden collaboration even further by optimizing customs clearance, and encouraging firms to expand agricultural investment in Russia, said the deputy director.

So far nearly 160 Heilongjiang-based firms have invested USD1.2 billion to farm in Russia, renting out 974,000 hectares of land, nearly 70 percent of which is designated for soybean. Last year, the province imported 803,000 tons of Russian soybean.

Editor: Emmi Laine