Russia, China aim to boost bilateral trade to $100 bln by 2015 – Deputy PM

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Russian Deputy Prime Minister Dmitry Rogozin met with Chinese Vice Premier Wang Yang in Vladivostok on Friday in order to discuss the creation of working groups for key bilateral cooperation projects. Rogozin and Yang, who are the co-chairmen of the Russian-Chinese commission for preparing regular meetings between heads of government, discussed cooperation in the areas of civil aviation, peaceful use of nuclear energy, development of trans-border infrastructure, and holding the first Russian-Chinese Expo in Harbin.

The Chinese vice premier said the main objective of the meeting was to implement agreements reached by the two countries’ leaders.

“The main political event of the year will be the Russian-Chinese summit that will be held in China, namely Shanghai. The national leaders will also meet at a number of international events, including the APEC summit in Beijing,” Rogozin said.

He said that in 2013 China again became Russia’s main partner, and Russia became China’s ninth largest partner. However, the trade turnover between the two countries saw very modest growth, Rogozin said.The trade turnover grew by 1.1% according to Chinse customs, and 1.6% according to Russian customs statistics. The visible trade turnover measured $88.8 billion.

“The figures are impressive, but there is work to be done,” Rogozin said, adding that this year growth of the trade turnover has accelerated and measured about 4% in the first two months of 2013. “However, the pace is insufficient in order to meet the objective set by the leaders of Russia and China – to bring the bilateral trade turnover to $100 billion by 2015,” Rogozin said.

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