This is a discussion on Sino-Russian trade ties poised for boost within the Investment forums, part of the Financial Services category; Sino-Russian trade ties are poised for a boost with increased bilateral cooperation in many areas including automobiles, communications and agriculture. ...
Sino-Russian trade ties are poised for a boost with increased bilateral cooperation in many areas including automobiles, communications and agriculture.
Chinese and Russian representatives attending a trade expo in this city in Jilin province expressed the view.
"There are new opportunities for the two nations to cooperate in economic and trade fields," said Wang Junwen, an official with the Chinese embassy in Moscow.
The Russian delegation, which includes more than 180 representatives from 62 firms, is seeking economic cooperation in industries like auto parts, construction, finance and pharmaceuticals.
China and Russia signed four cooperative agreements worth $32 million in the areas of construction materials, timber and fishery during the five-day Northeast Asia Expo, which kicked off here last Friday.
Russia's car market is expected to reach up to $40 billion by 2010 and the country's TV sales volume will increase anywhere from 6 million sets to 10 million in 2006.
In addition, energy is another domain for Sino-Russian economic cooperation.
Jiuichi, an official with the Far East Region of Khabarovsk, said Russia can provide China with rudimentary energy products like petroleum, natural gas and electricity, while Russia needs to buy consumer goods from China.
Sino-Russian economic and trade has been on a fast growth track in recent years with the trade volume at a record $21.2 billion last year, up 34.7 percent over 2003.
Bilateral trade in the first seven months this year reached $15 billion, a year-on-year increase of over 30 percent.