Chinese national exhibition promotes economic ties with Russia
27/3/2007 15:39
The Chinese national exhibition in Moscow will greatly promote economic
cooperation between the two countries, a top Chinese trade official said in
Moscow yesterday.
"The Chinese national exhibition not only displays the
achievements of China's opening-up policy and Chinese products, but is also a
platform for China and Russia to jointly create a bright future," Yu Guangzhou,
vice minister of commerce and director of the commercial aspect of the Year of
China in Russia, told Xinhua.
Yu said most of the Chinese provinces took part
in this exhibition scheduled for March 26-29, and during which 24 special
programs will be held. It will be the biggest exhibition China has held overseas
in almost three decades.
Some 200 enterprises and organizations from around
China, including the Hong Kong and Macau special administrative regions, will
attend the exhibition, with more than 15,000 kinds of products on show.
China
and Russia are expected to sign 21 agreements and contracts worth more than
US$4.3 billion during the exhibition, Yu said.
"The meaning of the exhibition
lies not only in the sum of money -- US$4.3 billion, but also in its
far-reaching influence in the future," Yu said.
Economic ties between China
and Russia have seen remarkable progress in recent years. According to Yu, the
volume of Sino-Russia bilateral trade reached the first US$10 billion in 10
years, the second in three years, and the third in just a year and a
half.
Double-digit growth has been registered in two-way trade for eight
years in a row since 1999. Trade volume hit a record US$33.4 billion in 2006, up
15 percent from the previous year, according to the Chinese Commerce Ministry
figures.
"So, our trade is increasing to a larger scale. Cooperation in
investment, labor, projects, border trade is also increasing. Generally
speaking, we have a broad future in our economic development," Yu said.
The
two countries have decided to raise the volume of bilateral trade to 60-US$80
billion by 2010, and the investment of China in Russia to US$12 billion by
2020.
"Through hard work on both sides we are confident of achieving this
goal, although it is rather high at present," Yu said.
After the opening
ceremony of the Year of China in Russia, attended by visiting Chinese President
Hu Jintao and his Russian counterpart Vladimir Putin last night, the ceremony of
the Chinese national exhibition will be held today, also with the leaders'
attendance.
Xinhua
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