RIA Novosti citing Mr Vladimir Yakunin President of State controlled monopoly Russian Railways as saying that the company has agreed with Chinese and German partners to set up a joint venture to handle container carriage.

He said that "We have agreed with China transport minister to set up a three party joint venture in which German partners will also take part in the field of container shipments."

He added that TransContainer, a cargo division of Russian Railways will participate in the joint venture on Russia behalf.

Mr Yakunin said the most promising business areas for the joint venture involved container shipments from China northeastern provinces which had no direct access to the sea across Russia' Far Eastern ports to China south Japan, South Korea and other countries.

He said that "We also discussed with China transport minister the possibility of cooperation to develop the Khasan port-Rajin rail section and the construction of a 160 kilometer track."

The Khasan port-Rajin railway link connects Khasan a Russian settlement on the border with North Korea with North Korean's Rajin port.

(Sourced from RIA Novosti)