Logo
  Thursday, August 11, 2022
Sign-In  |  Sign-Up  |  Contact Us  |  Bookmark 

Trade between Russia and China is expected to reach $32-34 billion in 2006
Trade between Russia and China is expected to reach $32-34 billion in 2006, and climb to $60-80 billion in the near future, Russia's ambassador to China said Wednesday. "According to our experts' provisional forecast, Russian-Chinese trade turnover will be between $32 billion to 34 billion," Sergei Razov told a news conference at China's State Council. Trade between the two countries exceeded $29 billion in 2005. The ambassador said Prime Minister Mikhail Fradkov, who will be visiting China November 9-10 on the invitation of Premier Wen Jiabao, will discuss stepping up bilateral cooperation and trade with his Chinese counterpart. China, whose booming economic growth has brought with it soaring demand for fuel and electricity, seeks to strengthen economic ties with its energy-rich neighbor Russia. During President Vladimir Putin's visit to China in March 2006, a number of Russian companies and agencies signed agreements with Chinese firms. Russia's electricity monopoly Unified Energy Systems has signed an electricity export contact with China's State Grid Corporation, while Russian state-controlled oil company Rosneft and natural gas monopoly Gazprom have signed agreements on supplies and forming joint ventures with the Chinese National Petroleum Corporation. This year, Russia wants to increase oil supplies to China from the earlier planned 10 to 15 million metric tons. China's crude demand is expected to rise by 5%-7% a year. China and Russia are also linked by military and nuclear cooperation agreements. Rosoboronexport, Russia's state arms export monopoly, is completing talks on the sale to China of about 50 Sukhoi Su-33 Naval Flanker fighters, worth $2.5 billion. Russia's nuclear power equipment and service export monopoly, Atomstroiexport, has been building the Tianwan NPP, which uses improved VVER-1000 reactors and K-100-6/3000 turbo-generators, under the terms of a Russian-Chinese agreement signed in 1992.
Print Trade between Russia and China is expected to reach $32-34 billion in 2006 Bookmark Trade between Russia and China is expected to reach $32-34 billion in 2006

Related News   
SepOctober 2006Nov
MoTuWeThFrSaSu
2526272829301
2345678
9101112131415
16171819202122
23242526272829
303112345