China, Russia to launch tourism investment program, expand business in South Asia

China and Russia will sign an agreement on the joint development of tourism investment in South-East Asia (SEA), the Kremlin said on Thursday.

The development of South-east Asia, also known as SE Asia, is a key economic area of the two countries and the region is expected to grow at a double-digit pace in the coming years.

Russia, China and India will sign the agreement in the early months of 2018, according to Kremlin spokesman Dmitry Peskov.

It is not yet known how the agreements will be implemented.

Russia is a major trading partner of the Philippines and India and is currently one of the top two tourist destinations in Asia.

The Philippines and Indian Prime Minister Narendra Modi visited Beijing in September to sign a landmark trade deal.

China’s foreign ministry has said it will sign a similar deal in the next few weeks.

India’s Prime Minister Manmohan Singh, who will travel to Beijing on Sunday, is also expected to sign bilateral agreements.

The countries have been partners in the Asian Infrastructure Investment Bank since it was established in 2014.

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