The Lenin district administration of Moscow plans to construct a wholesale trade centre for foreigners working in the Cherkyzovo market, which closed in late June, the Russian “Kommersant” daily said on August 4.

District officials confirmed that a planning board has been set up for building the new market in response to a proposal from the Chinese traders’ community in Russia .

Aleksey Seleznev, deputy head of Lenin district, and Igor Korotkov, district deputy head for the interior, announced that the board held its first session on August 3 and that the Chinese side was ready to invest 1 billion USD in building a new market to replace the Cherkyzovo market.

The new market will cover 40 ha area in the territory of Salarievo and Nikolokholam villages, about 5km from Moscow Ring Road (MKAD) en route to the Kiev highway.

Cherkizovo market, Moscow ’s biggest, was closed on June 29, 2009. As a result, over 100,000 tradesmen from various countries became unemployed, according to the Federation of Migrants in Russia./.