China and Russia inked eight wide-ranging cooperation agreements in Beijing on Thursday, boosting bilateral investment, trade and technical cooperation.
The agreements, covering sectors as diverse as trade, energy, car production and infrastructure construction, were signed at the beginning of Sino-Russian Investment Promotion Week, which began on Thursday morning.
Two of the eight agreements relate to joint mining exploration. The other agreements include setting up a car assembly factory, a float glass factory and wood-processing facilities. The contracted investment volume from the Chinese side is US$800 million.
Addressing the opening ceremony, Chinese Vice Prime Minister Wu Yi said China-Russia trade volume was expected to reach $60 billion to $80 billion by 2010, and China's total investment volume in Russia would reach the target of $12 billion ahead of 2020.
Trade volume between the two countries reached $29.1 billion in 2005. In the first nine months of this year, the two-way trade volume totaled $24.64 billion, up 18.8% year-on-year.
Sino-Russian Investment Promotion Week will feature 13 promotional activities aimed at boosting bilateral investment.
Russian deputy Prime Minister Alexander Zhukov said an agreement on promoting and protecting investment "aims to provide a legal foundation for expanding bilateral trade, and further facilitate two-way investment and cooperation".
Source: Asia Pulse/XIC
The agreements, covering sectors as diverse as trade, energy, car production and infrastructure construction, were signed at the beginning of Sino-Russian Investment Promotion Week, which began on Thursday morning.
Two of the eight agreements relate to joint mining exploration. The other agreements include setting up a car assembly factory, a float glass factory and wood-processing facilities. The contracted investment volume from the Chinese side is US$800 million.
Addressing the opening ceremony, Chinese Vice Prime Minister Wu Yi said China-Russia trade volume was expected to reach $60 billion to $80 billion by 2010, and China's total investment volume in Russia would reach the target of $12 billion ahead of 2020.
Trade volume between the two countries reached $29.1 billion in 2005. In the first nine months of this year, the two-way trade volume totaled $24.64 billion, up 18.8% year-on-year.
Sino-Russian Investment Promotion Week will feature 13 promotional activities aimed at boosting bilateral investment.
Russian deputy Prime Minister Alexander Zhukov said an agreement on promoting and protecting investment "aims to provide a legal foundation for expanding bilateral trade, and further facilitate two-way investment and cooperation".
Source: Asia Pulse/XIC
