Chinese Vice Premier raises four-point proposal to improve China-Russia trade cooperation

16:04, October 13, 2009      

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Vice Premier Zhang Dejiang on Tuesday called upon China and Russia to jointly raise the level of bilateral economic and trade cooperation.

Speaking at the opening ceremony of a China-Russia economic forum, which he attended with Russian counterpart Alexander Zhukov, Zhang reviewed economic and trade cooperation over the past 60 years.

He said it was in line with the fundamental interests of the two peoples to strengthen economic and trade cooperation.

It would not only help to cope with the economic crisis, but also help promote the economic development of both countries and the recovery of the world economy, he said.

Zhang suggested the two sides to enhance cooperation in four aspects.

First, he suggested they strengthen industrial cooperation. The two sides should take full advantage of the mechanism of regular meetings between the Chinese premier and Russian Prime Minister, and turn the inter-governmental consensus on industrial cooperation to extensive cooperation among industries and large enterprises in the areas of investment, technological transformation and industrial standardization.

Second, he suggested they change the pattern of trade. The two sides should jointly fight the practice of the "gray customs clearance," which refers to the practice by some Russian clearance companies of bringing imported goods into the Russian market at a tax rate lower than regulated levels, standardize customs supervision and guide enterprises and businesses to operate according to the law and take the healthy road of sustainable development.

Third, he suggested they improve financial services. The two sides should enhance the banking settlement and credit cooperation, encourage banks to set up standing bodies in each other's countries, and guide financial institutions to provide more extensive and better services for the enterprises of both countries.

Fourth, they should create a good environment for investment, improve the conditions of infrastructure and tax, expand market access and enhance protection for the rights of investors. The two sides should also adhere to opening markets to each other and oppose protectionism in any form.

Zhang also briefed the representatives to the forum on Chinese government measures to cope with the financial crisis and China's economic situation.

Source: Xinhua
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