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Chinese premier makes five-point proposal on furthering China-Russia economic co-op
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08:06, October 29, 2008

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Chinese Premier Wen Jiabao on Tuesday put forward a five-point proposal on promoting the economic cooperation between China and Russia.

The Chinese premier made the proposals when addressing the opening ceremony of the third China-Russia Economic and Trade Summit Forum in Moscow.

The China-Russia strategic partnership of cooperation is the most unique, important and sound, said Wen, who is in Russia on an official visit.

Deepening bilateral cooperation in various fields is significant not only for the fundamental interests of the two countries but also for peace and stability in the Eurasian region and the whole world, he said.

He urged the two countries to join hands in opening up new prospect in bilateral relations, especially the strengthening of cooperation in economy and trade.

The five-point proposal includes:

First, the two countries should deepen cooperation in energy and natural resources.

Strengthening bilateral long-term strategic cooperation in energy and natural resources is conducive to the development of the two economies and maintaining the stability of the international market, Wen said.

He said the two countries should bring into full play their advantages, take their interests into consideration and further enhance the levels of cooperation in these sectors.

Second, the two sides should boost cooperation in trade and technology.

In order to optimize bilateral trade structure, the proportions of mechanical and electrical products and high-tech products in trade should be lifted, Wen said.

He urged the two sides to promote cooperation in aviation and space, information and communication, nanotechnology and new materials.

Third, cooperation in finance and investment should be deepened.

Reinforcing bilateral strategic coordination in the financial sector is particularly important against the backdrop of the current global financial turmoil, Wen said.

He called on the two countries to further strengthen communication and cooperation, discuss policies and measures to counter the global financial crisis and make contributions to improving the international financial system.

Efforts should be continued to facilitate the two countries' banks to set up branches in each other country and expand their business cooperation, he added.

Fourth, the two neighbors should deepen cooperation at local and regional levels.

China and Russia share a long borderline and have many pairs of friendship provinces or cities, Wen noted.

He urged the two sides to enhance exchanges in such fields as culture, education, science and technology and tourism, in efforts to further the understanding between the two peoples and the traditional friendship.

Fifth, the two countries should boost cooperation in international economic affairs.

To better meet the opportunities and challenges of globalization, China and Russia should closely work together to promote the establishment of international economic and trade principles, breaking protectionism in trade and taking part in the integration of regional economy, he said.

He also reiterated China's support for Russia to join the World Trade Organization (WTO).

The Chinese premier arrived here on Monday for an official visit aimed at strengthening China's strategic partnership with Russia.

Russia is the first leg of Wen's two-nation tour, which will also take him to Kazakhstan.

Source: Xinhua

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