The inaugural session of the Russian-Chinese subcommission on developing the North Sea Route is scheduled for October
In 2023, cargo traffic on the North Sea Route totalled 36.25 mn tons, with international transit exceeding 2 mn tons.
10 June 2024The first meeting of the Russian-Chinese subcommission focused on North Sea Route development is likely to occur in October 2024. This is what the Atomnaya Energiya 2.0 portal reports. Vladimir Panov, Deputy Chairman of the State Commission for Arctic Development and Special Representative of Rosatom State Corporation announced new initiatives.
In May 2024, an agreement was reached to establish a separate intergovernmental body, a subcommission for the development of the North Sea Route, following a meeting between the Russian President and the leader of China.
'We aim to sign the protocol in August and convene the first subcommission meeting in October,' stated Vladimir Panov.
He observed that as trade between Russia and China grows, so too does the maritime component. He believes that maritime logistics between China and Russia, especially via the North Sea Route, holds significant potential.
The North Sea Route is designated as a strategic priority for Russia's development. The annual cargo flow through the NSR is projected to reach 150 mn tons by 2030 and 220 mn tons by 2035, according to the plan.