Fri, March 27, 2009
Business > Industries

Senior official says Russia capable of becoming China's biggest energy supplier

2009-03-27 11:40:15 GMT2009-03-27 19:40:15 (Beijing Time)  Xinhua English

BEIJING, March 27 (Xinhua) -- "Russia is fully capable of becoming the biggest energy supplier for China in upcoming 15 years," Russian Deputy Prime Minister Alexander Zhukov said here Friday.

Zhukov made the remarks in addressing the China-Russia Investment Forum.

He stressed that the two nations should especially expand energy cooperation.

Last month, the two nations signed an oil-for-loan deal, under which China offered Russia 25 billion U.S. dollars of long-term loan and Russia would supply 300 million tonnes of oil through pipelines to China from 2011 to 2030.

The two sides had also agreed on the construction of a pipeline from Russia's Skovorodino in its far-eastern Amur region to China's northeastern city of Daqing.

Although faced with the global financial crisis, Russia and China still achieved sound growth of economic and trade cooperation last year, Zhukov said.

In 2008, China remained Russia's second largest trading partner only after the European Union, while Russia ranked as China's ninth largest, compared to the seventh in 2007, according to the Chinese Ministry of Commerce.

"The bilateral cooperation helped each other's domestic economic growth," he said, adding that the two sides would expand the scale and improve the quality of trade links.

Russia gives priority to improving investment environment, and creates favorable conditions for fresh investment cooperation with China, he noted.

Zhukov and Chinese Vice Premier Li Keqiang also attended the signing ceremony of five agreements on forestry and investment cooperation at the forum.

BEIJING, March 27 (Xinhua) -- China's top legislator Friday called for expansion of Sino-Russian cooperation in a meeting with Dmitry Mezentsev, visiting deputy chairman of the Russian Federation Council.

Wu Bangguo, chairman of the Standing Committee of the National People's Congress (NPC), said the two nations should deepen political mutual trust and boost strategic cooperation to promote the bilateral relationships. Full story

BEIJING, March 27 (Xinhua) -- Chinese Premier Wen Jiabao met with visiting Russian Deputy Prime Minister Alexander Zhukov Friday, ahead of the debut of the "Year of Russian Language" in China.

In the "Year of Russian Language", the two nations will hold more than 260 cultural exchange activities in 14 provinces, four autonomous regions and four municipalities in China.

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