ST. PETERSBURG, August 21. /TASS/. The International Congress of Industrialists and Entrepreneurs (ICIE) and the BRICS Partnership on New Industrial Revolution Innovation Center (Xiamen, China) have signed a cooperation agreement in principle, the ICIE press service told TASS.

"The agreement opens a new chapter in the development of business ties between Russia and China. The parties agreed to establish a permanent representative office of the ICIE at the BRICS Innovation Center in Xiamen in 2027, as well as to jointly draft a comprehensive memorandum of understanding to formalize a long-term strategic partnership," the press service said.

The document was signed following a strategic working session attended by representatives of the Russian Union of Industrialists and Entrepreneurs, the Russian Direct Investment Fund, and the Russia-China Investment Fund.

According to experts, the opening of an ICIE representative office at the BRICS Innovation Center in Xiamen in 2027 will mark a significant step in the development of Russian-Chinese economic cooperation.

As part of this cooperation, plans are also in place to establish a Russian-Chinese center for the protection of the rights of industrialists and entrepreneurs based at the BRICS Innovation Center. This entity will focus on the pre-trial resolution of commercial disputes, legal support for businesses, and investment protection, serving as a reliable pillar of support for entrepreneurs operating in the Chinese market.