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 China, Russia seek to expand economic ties

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Join date : 2011-08-31
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PostSubject: China, Russia seek to expand economic ties   Mon Oct 10, 2011 8:57 am

China, Russia seek to expand economic ties


BEIJING - China and Russia
discussed expansion of economic cooperation on Monday, paving way for
Russian Prime Minister Vladimir Putin's upcoming visit to China.

In a nearly two-hour discussion Monday morning, Vice-Premier Wang
Qishan and his Russian counterpart Alexander Zhukov expressed
willingness to explore new directions for bilateral economic and trade

"In the next phase, China and Russia will make efforts to maintain
the rapid growth of bilateral trade and improve trade structure," Wang
said at the 15th meeting of the Joint Commission for the Regular
Meetings of Heads of Government of China and Russia.

Wang said the two countries will discuss building a special economic
zone in Russia, expanding local currency settlement in trade, pushing
forward key cooperative projects in space cooperation, and promoting
infrastructure construction.

China has become Russia's top trading partner, and trade volume this year is expected to exceed $70 billion, he said.

"The two countries should give full play to their respective advantages to expand cooperation in scope and depth," Wang said.

"We totally have the ability and confidence to maintain the sound
momentum of Sino-Russian economic cooperation, create new highlights of
cooperation in energy resources, high technology, infrastructure,
finance and tourism, and realize the goal of making trade reach $100
billion by 2015 and then to $200 billion by 2020," Wang said.

China will also enhance communication and coordination with Russia
within the framework of the Group of 20 (G20), BRICS (Brazil, Russia,
India, China and South Africa), and the Shanghai Cooperation
Organization (SCO), Wang said.

Zhukov said the two sides conducted candid and detailed discussions
in economy and trade fields during the meeting, including bolstering
bilateral customs cooperation, issues concerning Russia's entry into the
World Trade Organization (WTO), and cooperation in long-range wide-body

Zhukov expressed appreciation for China's consistent support for Russia's entry into the WTO.

Russia will make joint efforts with China to open up new direction for bilateral economic and trade cooperation, he said.

Zhukov noted the two countries have explored new cooperative
highlights in areas such as technological innovations, energy, nuclear
energy, space technology, and environment protection.

Putin will arrive in Beijing for a two-day visit on Tuesday, during
which he will attend the 16th regular meeting between the two countries'

Also on Tuesday, Wang will also co-chair a Sino-Russian energy
negotiators' meeting with Russian Deputy Prime Minister Igor Sechin.

According to Foreign Ministry spokesman Hong Lei, the upcoming
meeting between Wen and Putin will "summarize experience after the 15th
regular meeting and implement the agreements reached during President
Hu's Russia visit in June."
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China, Russia seek to expand economic ties
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