China inks energy and trade deals with Russia (2)

Hailing the meeting "efficient and having strategic meanings", Medvedev said in addition to increasing trade, the two countries should also improve the quality of cooperation in two-way investment, high-tech, nuclear power and aircraft manufacturing.

The two sides also agreed to boost interregional and border cooperation.

Leaders from the two countries had a deep discussion on energy cooperation in the natural gas, oil and coal sectors, Medvedev said. "Consensus in this area will lay a foundation for future cooperation."

China and Russia on Wednesday inked four agreements on energy cooperation, including a roadmap on cooperation in the coal sector and an agreement on electricity supply.

Close ties between the two neighbors have blossomed, especially in the economy and trade, with bilateral trade reaching $73.6 billion in the first 10 months of this year, a year-on-year increase of 13.4 percent.

The meeting was "fruitful" and set the strategic guidance for economic cooperation between the two countries, said Feng Yujun, director of the Institute of Russian Studies of China Institutes of Contemporary International Relations.

"The two countries have made breakthroughs in major economic areas, including nuclear power and Russia's supply of coal and electricity to China," Feng said, referring the countries' energy cooperation as "extensive and deep".

There is also a lot of potential for cooperation in the high-tech sector, including aircraft manufacturing and the research and development of helicopters, Feng said.

Xing Guangcheng, a researcher on Russian studies at the Chinese Academy of Social Sciences, said that in addition to oil and natural gas cooperation, the achievements of this meeting indicate that the two countries will have more cooperation in coal and electricity supply in the future.

Stability and sustainability are key features of the Sino-Russian relationship, despite leadership changes in both countries, Xing said.

Contact the writers at qinjize@chinadaily.com.cn and chengguangjin@chinadaily.com.cn

We recommend:
'Pirate ship' gives a festive feel	HK tops China City Competitiveness Ranking	Beijing-Guangzhou high-speed rail to open
10th China Int'l Automobile Exhibition concludes	Harbin-Dalian high-speed railway starts operation	New wave of communication tools
Alibaba's 2012 transaction volume hits 1 trln yuan	China's savings rate world's highest	Shanghai Center Tower to rise over 400m