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Russia-China on track for $100bn bilateral trade
February 20, 2013, 10:15 am


Wang Qishan (r) meets with Igor Sechin in Beijing to discuss further cooperation between Russia and China [Xinhua]

Russia and China say they are on course to reach the $100 billion bilateral trade target set for 2015 after detailed discussions on energy cooperation in Beijing.

Wang Qishan, the Chinese Vice Premier met with Igor Sechin, the President of Russia’s state-owned oil producer Rosneft, on Tuesday, pledging to boost energy cooperation between the two countries.

“Energy cooperation constitutes an important part of the comprehensive strategic partnership of coordination between China and Russia,” Wang said.

Wang also highlighted achievements made in the countries’ cooperation in oil, natural gas, coal, nuclear energy and electricity – earlier this week Rosneft agreed to boost crude supplies to China.

The vice premier said oil and gas cooperation is the key to China-Russia energy cooperation, as well as praising the increase in trade, investment, financing and upstream-downstream integration between the countries.

As the two nations make efforts to improve trade they are finding more common interests, Wang said during the meeting with Sechin.

It was the second meeting between the vice premier and Sechin in three days, the Rosneft boss is also the executive secretary of the commission on the strategic development of Russia’s energy sector.

In the face of the crippling eurozone crises and mounting global uncertainties, Sechin called on Russia and China to enhance bilateral ties and said that Russia cherishes the high-grade political relationship between the two countries.

The Russian side is ready to expand all-around energy cooperation with the Chinese side, including the oil and gas trade, investment and financing, to deepen their economic cooperation, he added.

Source: Agencies

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