Minister of Commerce Chen Deming of China and Russia's economic development Minister Nabil El Linna 20, co-chaired in Moscow-Russian economic and trade Subcommittee of the thirteenth session. Both investment and economic and technical cooperation, and mechanical and electrical products trade, standardized trade order and many other topics full exchange of views, and reached a broad consensus.
Chen Deming said that China will continue to encourage domestic enterprises to expand investment in Russia, in Russia the construction of infrastructure, and also welcomes Russian enterprises to expand their business, both sides should work together to improve the investment environment, protection of the legitimate interests of investors, to facilitate the implementation of the project. China will continue to take positive measures to expand the mechanical and electrical products import to Russia to enhance bilateral trade structure, and also hope that the Russian side to China Automotive and other products to create favorable conditions for the Russian market.
Chen Deming noted that China and Russia for trade order work achieved certain results, should continue to strengthen management, promoting trade mode change. Chinese support Russia's efforts to establish convenient customs clearance channel, also encouraged the State-owned enterprises in Russia established Trade Centre, carry out wholesale logistics business, promote China commodity specifications entered the Russian market, the Russian side to the appropriate support.
Nabil Al Linna said that Russia is very welcome Chinese enterprises to undertake investments in Russia, in particular the processing industry, high-tech, civil commodity production, mineral mining, infrastructure construction, and other priority areas for economic modernization, and participate in the development and construction of Russia special economic zone. Russia has established specifically for this interdepartmental group to promote Russian investment cooperation. Russia is willing to work with China on more specific cooperation projects, consolidate their upward momentum and electrical products, and the other products offer fair market access environment. Both sides should further develop customs cooperation to combat gray clearance, strengthening port construction, improve the efficiency of customs clearance. Nabil Al Linna also on China to Russia should provide assistance to the catastrophic fire.
Sides positively assess the current state of development of Sino-Russian economic and trade relations, agreed that bilateral trade relations between China and gradually overcome the adverse effects of the financial crisis, is reentered steady growth track. According to Chinese statistics, January-July of bilateral trade reached 307 billion, an increase of 49.6%/year, is expected to be recovered to the level before the financial crisis. Significant improvement in the trade structure of both sides, the concern of the mechanical and electrical products exports to China had already implement recovery for three consecutive years during the first half of the year of growth in the high-tech product exports to China rose up 174%. Mutual investment quickly expanded, Chinese direct investment in Russia last year growth 73.5% and growth in the first half of this year, Russia 58.5% to direct investment grew 18.3%; cooperation between the two sides in special economic zones, intellectual property protection, standards, certification, border and area, timber processing and other fields of cooperation that significant progress had been achieved. The two countries also in the Shanghai Cooperation Organization, the Asia-Pacific economic cooperation (APEC), the BRICs and other multilateral trade and economic cooperation in the field of the good. China reiterates its strong support for Russia's early entry into the WTO, the Russians are grateful.
The two sides agreed on the 1992-Russia intergovernmental economic partnership law was amended in order to actively promote local currency settlement from the border to two countries generally trade.
After the meeting, both sides signed the minutes of the meeting. Bilateral chambers of Commerce and business are also signed several cooperation agreements.
On the same day, Chen Deming also met with the Russian Ministry of industry and Trade Minister Khristenko. Visiting Moscow, Chen Deming was also invited to visit the Irkutsk oblast, and part in Russian-Chinese enterprise held a meeting.
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