Wed, November 24, 2010
China > China & World > Premier Wen visits Russia, Tajikistan, attends SCO meet

Wen calls for more trade between China, Russia

2010-11-24 13:01:28 GMT2010-11-24 21:01:28 (Beijing Time)  Xinhua English

MOSCOW, Nov. 24 (Xinhua) -- China voiced commitment here on Wednesday to step up its cooperation with Russia in such fields as trade, mutual investment and energy.

Economic and trade cooperation is a very important part of China-Russia relations which is now at its best stage, said visiting Chinese Premier Wen Jiabao.

Wen's remarks came during his address at a China-Russia business summit in Moscow.

He noted that China will be more dedicated to deepening bilateral cooperation and enriching the partnership to a higher level.

The Chinese premier made a four-point proposal suggesting a roadmap to promote bilateral cooperation and called on the two nations to further open their markets to each other in an effort to take two-way trade to a higher level.

Economic and trade cooperation between China and Russia has also been on the rise. The latest statistics show that their bilateral trade volume stood at 45.1 billion U.S. dollars from January to October, surging 45 percent compared with the same period in 2009.

Bilateral trade volume for the whole year was expected to rebound to the pre-crisis level.

Wen said that China welcomes more Russian companies to establish business in China.

As for the mutual investment schemes, Wen suggested that the two sides need to reduce investment barriers and take effective measures to promote large projects and improve the quality of their mutual investment cooperation.

"China will encourage its enterprises to take an active part in Russia's economy in fields such as infrastructure, power network reconstruction and high-speed railway," Wen said.

He noted that China supports its financial institutions in launching investment projects in foreign countries such as Russia. He promised that the Chinese government will create favorable conditions to boost China-Russia investment projects.

Wen also called on the two countries to intensify their cooperation on technology and innovation, indicating that the two share common interests in such fields as space science, nuclear power and bioengineering.

Chinese and Russian scientists should work closer to promote cutting-edge technological initiatives and develop innovation programs as a marketing approach in the third country, Wen proposed.

On his fourth point, Wen suggested the two nations improve the level of trade and technology and investment cooperation in their bordering area, which is, in his words, "a strategic key point" of the bilateral economic cooperation.

As China and Russia share a 4,300-km common border, the two sides could tap a huge potential to step up economic cooperation, Wen said.

He urged the two sides to further boost border trade in various forms, regulate customs clearance and optimize utilization of cross-border water resources.

China is keen to share its experience in the successful development of the special economic zone and is willing to jointly construct and manage pilot projects in a Russian special economic zone, Wen added.

As a guest of Prime Minister Vladimir Putin, Wen arrived in St. Petersburg on Monday evening for a two-day official visit.

Prior to his keynote speech, Wen also presented awards to Russian individuals who have made significant contributions to China-Russia energy cooperation, especially those working on the China-Russia oil pipeline.

Wen said a long-term, stable partnership on energy cooperation serves the interests of both countries and highlights the accomplishments that the two nations have achieved in the sector.

He said bilateral cooperation on oil, natural gas, nuclear energy and power generation has "stepped on the fast track."

In August, Russia officially launched its section of a pipeline that will deliver east Siberian oil to China. The pipeline is expected to be operational by the end of 2010.

The pipeline is part of a long-term loan-for-oil deal reached in February 2009 between the two countries.

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