New pattern of Russia-China trade ties should be more stable: view.

13/10 Tass 71

BEIJING, October 13 (Itar-Tass) - A new pattern of Russian-Chinese
trade and economic cooperation should be more stable, Russian Deputy Prime
Minister Alexander Zhukov said on Tuesday at the opening of the fourth
Russian-Chinese economic forum.

Both states have "common views of changes in the world economic, trade
and financial systems, the reform of international financial
organizations," Zhukov said here. "It is quite logical to expect that this
consensus will be supplemented with joint efforts aimed at creating a new
pattern of trade and economic cooperation of the two countries," he
stressed.
He believes this pattern must be "more stable and be based on active
cooperation in the sphere of innovations, mutual investments, production
cooperation, and include joint projects in the use of alternative sources
of energy, energy and resource saving technologies".
Thus it must be built within the framework of tendencies to create
green economy which will dominate in the world's development, he said.
Russia and China have necessary scientific potentials and production
possibilities to put that scenario into practice, he said.
Prior to the forum "a major package of contracts and agreements
between Russian and Chinese banks, enterprises and companies involving
different spheres of our economic cooperation was signed," he said.
In this connection Zhukov particularly emphasized a major credit
agreement worth 500 million dollars between Russia's Vnesheconombank (Bank
for Development and Foreign Economic Affairs) and the State Development
Bank of China, as well as an agreement on cooperation in the credit sphere
between Russia's Vneshtorgbank (Bank for Foreign Trade) and the
Agricultural Bank of China.
The top Russian official hailed the fact that "a lot of agreements on
investments in the construction industry, in infrastructure facilities
have been reached, for example, the construction of brick and cement
plants in many Russian regions and the construction of a bridge across the
Volga River near Yaroslavl".
These agreements and substantial delegations to the forum on both
sides testify "to a big potential of mutually advantageous Russian-Chinese
trade and economic cooperation, as well as a mutual interest of two
countries' entrepreneurs to deepen it and give it a further boost," Zhukov
stressed.
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