MOSCOW, Nov 6 (Xinhua): Chinese-Russian trade and economic ties were further enhanced in the national theme years and bilateral trade is hopeful to record a new high of 50 billion US dollars in 2007, Yu Guangzhou, Chinese vice minister of commerce said yesterday.
Bilateral trade has hit 34.9 billion US dollars in the first nine months this year, exceeding the annual volume in 2006, Yu told a press conference held in Moscow.
Since 1999, Chinese-Russian trade has kept soaring at an average annual growth of some 30 per cent and trade components have also been optimised when machinery products exports to each other are increasing, he said.
In the January-September period, trade of machinery products reached 7.3 billion US dollars, accounting for 21 per cent of the total trade volume and topping the trade list, according to Chinese customs figures.
Two-way investment also surged and has hit 1.6 billion US dollars so far, of which, Chinese investment in Russia was 1.03 billion US dollars and Russian investment, 650 million US dollars, Yu said.
The two countries have signed agreements on 31 investment projects, worth some 4 billion US dollars. Those projects cover such fields as mine exploration, timber processing, infrastructure construction, assembly, agricultural industry, trade and logistics.
Border and regional trade were also boosted. Border trade was 6.2 billion US dollars and accounted for some 20 per cent of bilateral trade in the January-September period, Yu said.
Nat’l theme years speed up Sino-Russian trade ties
FE Team | Published: November 07, 2007 00:00:00 | Updated: February 01, 2018 00:00:00
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