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Chinese premier delivers speech at China-Russia economic, trade forum
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08:07, October 29, 2008

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Chinese Premier Wen Jiabao delivered a speech at the opening ceremony of the third China-Russia Economic and Trade Summit Forum here Tuesday.

In his address, the premier hailed the significant progress made in the economic and trade cooperation between China and Russia in recent years.

Strengthened cooperation in economy and trade between the two sides are conducive to the all-round development of relations between the two countries, as well as to promoting prosperity and stability of the world economy, he said.

The scale of bilateral trade has expanded with an upgraded trade structure, with the China-Russia trade volume rising nearly 10 times between 1998 and 2007 and expected to exceed 50 billion U.S. dollars this year, said the Chinese premier.

The target of 60-80 billion dollars in bilateral trade by 2010 set by both sides can be met, he said.

Wen also called for confidence, cooperation and the establishment of a new international financial order in the face of the global financial crisis.

Confidence and cooperation are more precious than gold or any currencies in the face of the current crisis, as confidence is the source of strength while cooperation is the effective approach to overcoming the crisis, Wen said.

Wen said that to stabilize the global financial market, developed countries should shoulder their due responsibilities and obligations, and implement more effective polices to stabilize their own markets and the global financial market.

Other countries should adopt appropriate macro-economic policies to stabilize their economies, financial markets and capital markets, he said.

The international community should join hands to boost the development of the world economy and give particular attention to the reduction of the crisis's damages to developing countries, especially to least developed countries, said the Chinese premier.

Wen said that to maintain a stable and relatively rapid development of its economy is the biggest contribution that China, a large developing country with a 1.3 billion population, makes to the world.

China will continue to play an active role and make joint efforts with the rest of the international community to handle global challenges such as the financial crisis, he said.

In the speech, the premier put forward a five-point proposal on promoting the economic cooperation between China and Russia.

The China-Russia strategic partnership of cooperation is the most unique, important and sound, said Wen.

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: the two countries should deepen cooperation in energy and natural resources; the two sides should boost cooperation in trade and technology; cooperation in finance and investment should be deepened; the two neighbors should deepen cooperation at local and regional levels; and 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, said the Chinese premier.

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

Source: Xinhua

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