Russia to continue building relations: PM
In the current situation, Russia will continue fostering relations with China and other countries who are ready for co-operation, Russian Prime Minister Mikhail Mishustin said at the Russia-china Business Forum in Shanghai yesterday.
"Our country is looking at dynamically developing markets. We have expanded trade with the world’s rapidly developing economies. These words fully apply to our big friend, China," the Russian head of government emphasised.
According to him, Russia’s foreign trade grew by more than 8 per cent to US$850 billion last year, with exports rising by about 20 per cent.
"We will keep building up ties with friendly countries. This is one of the six key tasks outlined by Russian President Vladimir Putin for this year," Mishustin concluded.
Russian Prime Minister Mikhail Mishustin began the work programme of his two-day visit to the People's Republic of China yesterday. This is Mishustin's first visit to China as Prime Minister.
The forum was held in the newly built conference centre next to the Russian Consulate General in Shanghai.
Leading companies from both countries also took part in the event. The plenary session was followed by thematic sessions on the development of co-operation in various sectors of the economy.
Economic co-operation
According to the Russian government, bilateral trade between the two countries in the first three months of this year increased by almost a quarter compared to the same period last year, reaching $51.9 billion.
The share of national currencies in bilateral payments for goods and services is growing. Co-operation is developing through banking, insurance and stock exchange organisations, rating agencies, as well as in the field of payment systems. Industrial co-operation is expanding, including major projects in the car and aircraft industries.
Russia and China are paying special attention to co-operation in the energy sector. In the gas sector, Moscow and Beijing signed an intergovernmental agreement earlier this year on the supply of Russian gas to China via the Far Eastern route, including the cross-border section of the gas pipeline across the Ussuri River near the cities of Dalnerechensk in the Russian Federation and Hulin in the People's Republic of China. When the project reaches its full capacity, the volume of Russian pipeline gas supplies to China will increase by 10 billion cubic metres to a total of 48 billion cubic metres per year.
Russia is also increasing its oil supplies to China and ranks first among oil exporters to the Chinese market. Russian Deputy Prime Minister Alexander Novak said earlier that last year Russia's oil exports to China reached 67 million tonnes, which is almost a third of the total oil supplies abroad. This year, according to Novak, oil exports to China will grow even more.
After his speech at the forum, Mishustin visited the SINOPEC Shanghai Research Institute of Petrochemical Technology (SRIPT) and met with representatives of the Russian business community for a working lunch.
The Russian Prime Minister was also scheduled to hold talks with the president of the BRICS New Devel
Our country is looking at dynamically developing markets. We have expanded trade with the world’s rapidly developing economies. These words fully apply to our big friend, China."
Russian Prime Minister Mikhail
Mishustin
opment Bank Dilma Rousseff.
The Russian Prime Minister will continue his work in the Chinese capital today (Wednesday), with meetings scheduled with Chinese President Xi Jinping and Premier of State Council Li Qiang.
The talks will focus on expanding trade and economic ties, with special attention to industry, energy, transportation and agriculture. The sides plan to sign bilateral agreements after the meeting.