Russia-China Trade to Hit New High: Russian PM

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Last updated at: (Beijing Time) Thursday, August 22, 2002

Russia-China Trade to Hit New High: Russian PM

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Bilateral trade between Russia and China was hopeful to reach a new high of more than 11 billion US dollars this year thanks to concerted efforts by both sides, Russian Prime Minister Mikhail Kasyanov said Wednesday in Shanghai.

Kasyanov, who arrived here earlier Wednesday on an official visit, told a meeting of Chinese business people that there existed big potentials for China-Russia trade and the two sides should boost bilateral trade with more investment.

He said that bilateral trade had grown rapidly in recent years and could hit a record high this year.

"Russia is now China's eighth largest trade partner while the latter is the former's sixth largest trade partner. Russian investment in China has topped about 300 million dollars," he said, adding that such momentum "can be maintained".

He attributed the growth to the policy adopted by the Russian and Chinese governments of fully promoting the Russia-China strategic partnership of cooperation and to the efforts made by business circles of the two countries.

He urged both sides to explore new cooperative areas, increase mutual investment and give full play to the potential in economic and trade areas.

Kasyanov briefed the business people on the development of major Sino-Russian cooperative projects in energy, nuclear energy and civil aircraft manufacturing and hoped for more cooperation in infrastructure, mining, forestry, agriculture, telecommunications,home appliance production and other fields.

He also urged Chinese enterprises to pay more attention to the Russian market, improve the image of China-made products and provide more quality commodities to Russian consumers.

Chinese State Councilor Wu Yi and Russian Deputy Prime MinisterViktor Khristenko were among those present.

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