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Promising Future for Trade, Economic Cooperation Between NE China, Russia
Officials from China and Russia said in Shenyang that with the support and coordination of concerned departments of the two countries, the northeastern regions of China and Russia are expected to witness faster development and progress in bilateral trade and economic cooperation in the future.
Statistics show that in the first half of the year, the trade volume between China's Heilongjiang, Jilin and Liaoning provinces and the Inner Mongolia Autonomous Region, and Russia was 1.43 billion U.S. dollars, accounting for 31.2 percent of the total trade volume between the two countries in the same period. The figure was only 1.713 billion U.S. dollars in 1999.
Shenyang, capital of Liaoning Province and the biggest city in northeast China, has made great efforts in exploring the Russian market. Sponsored by the city, the annual Russian Import and Export Commodities Exhibition is attracting an increasing number of participants from both sides.
The 2001 exhibition ended recently with the signing of 10 million U.S. dollars worth of trade and economic cooperation contracts. The event attracted more than 90 enterprises from Russia and some 150 Chinese enterprises.
Sources with the Chinese Ministry of Foreign Trade and Economic Cooperation (MOFTEC) said that China and Russia have maintained a good relationship and both sides are keen to develop bilateral trade and economic cooperation.
Due to the special geological location, trade and economic cooperation between northeast China and Russia plays a very important role in the bilateral trade and economic relations between the two countries, officials in the Russian Embassy in China said, adding that some regular trade and economic events held in northeast China have been widely recognized by Russian enterprises.
At present, China's Heilongjiang, Jilin and Liaoning provinces and Inner Mongolia have set up direct trade and economic relations with relevant regions of Russia. And progress has been reported in bilateral border trade, contracts for architectural projects, technical transfer and other areas, according to the MOFTEC.
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