The turnover of Russia and China will exceed $40 billion by this year-end, China’s Ambassador to Russia Liu Guchang forecasted.
Photo: Olga Allenova
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China-Russia’s Turnover to Hit $40bln by Year-End
The turnover of Russia and China will exceed $40 billion by this year-end, China’s Ambassador to Russia Liu Guchang said at the Moscow news conference dedicated to joint antiterrorist exercises of the Shanghai Cooperation Organization that are currently held in Chelyabinsk region of Russia.
According to Liu Guchang, the plans are to reach mutual trade of $40 billion by this year-end. H1 turnover stood at $20 billion, the ambassador said specifying that bilateral sales amounted to $33 billion in 2006, having grown five fold vs. 1999.
But the optimism of Russia’s Vice Premier Alexander Zhukov is even of greater extent than the one shown by Chinese ambassador. The task of reaching turnover of $60 billion in the near term looks real, Zhukov forecasted in June.
The main thing, Zhukov said, is transition from bilateral cooperation to intensive development model coupled with diversifying exports from raw materials towards engineering and other science-driven products.
The companies of Russia and China entered into 18 agreements for a total worth of over $1 billion in time of 11th International Economic Forum in St. Petersburg. Amid the firms that clinched deals there were such giants of Russia as Incom-Auto, Crocus International, Saturn Design & Production Enterprise and OMZ (Uralmash-Izhora Group).
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