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Russian-Chinese trade increased 20% year-on-year in the first five months of 2006
Russian-Chinese trade increased 20% year-on-year in the first five months of 2006, Russia's trade representative to China said Friday. "In the last five months bilateral trade grew 20% to $12 billion year-on-year," Sergei Tsyplakov told a news conference in the Russian Information Center in Beijing. He said the countries were dynamically developing investment cooperation and that Russia had taken the lead in terms of Chinese investment in the first quarter this year, hitting $280 million. "This equals the whole amount for last year," Tsyplakov said. The official added that a project to set up assembly production of off-roaders in Yelabuga in the Volga republic of Tatarstan was one of the largest. "If it is implemented, investment will be $100 million," he said. Tsyplakov also said Russian businessmen were not only interested in China's traditional exports, such as garment and footwear, but also in cars and equipment, including telecommunications equipment. He said many Russian companies were looking to attract Chinese investment.
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