Russia: Exchanges with China unprecedented in ties
(Xinhua)
Updated: 2006-03-17 10:11

The two events of the Year of China and the Year of Russia are two massive projects unprecedented in history in terms of scale and scope, Russian First Deputy Prime Minister Dmitry Medvedev said.

In an interview with Xinhua on the eve of Russian President Vladimir Putin's visit to China, Medvedev, who chairs the organizing committee on the Russian side, said leaders of both countries decided in October 2004 to launch the Year of Russia in China in 2006 and Year of China in Russia in 2007.

The implementation of the Year of Russia program has begun in China. During his two-day visit to Beijing that starts on March 21, Putin will attend the opening ceremony of the event.

Medvedev said the program of the Year of Russia contains nearly 200 events covering a wide spectrum of areas including economy, culture, technology and education. In the economic respect, a host of activities will be held, including seminars, forums and meetings of the two countries' business leaders, he said.

Russia will launch a large-scale cultural festival in China this year and Russian regions are also expected to run promotional programs in China, Medvedev said. In particular, he said, the cultural events of the Moscow Day and the St. Petersburg Day will be held in Beijing and Shanghai respectively.

The Russian deputy prime minister praised bilateral economic and trade ties, saying trade has been growing rapidly and hit 29 billion U.S. dollars last year. He deemed attainable the goal set out by both sides to boost trade volume to 60-80 billion dollars by 2010.

The mid-term economic and trade cooperation program for the 2006-2010 period, which both sides are working on, will serve as a roadmap for the growth of economic ties, he said.

Medvedev urged effective measures to optimize the structure of bilateral trade. While raw materials still dominate trade between Russia and China, he said, Russia also hopes to export machinery, electronic and high-tech products, and long-term cooperation in biotechnology. environmental protection and information technology is equally promising.

Russia and China encourage a strengthening of investment ties, Medvedev said, adding the investment deals worth 1.5 billion dollars signed by both sides during an investment promotion conference in St. Petersburg last year is key to further investment cooperation.

With regard to energy cooperation, the Russian deputy prime minister said that with rapid economic development, China's energy needs are growing and to Russian companies, China represents a huge market. Russian oil export to China is expected to top 15 million tons this year, he said.

Last year, Russian and Chinese companies signed an agreement on the construction of the Far East oil pipeline's branch line to China, Medvedev said. The agreement should be implemented, he said.

Medvedev also spoke of the potential of cooperation in the natural gas sector, saying Russian gas giant Gazprom is studying plans for supplying natural gas to China and the Altai-Xinjiang route merits further consideration.

Russia also wants to export electricity to China, he said, adding Russia's Unified Energy Systems reached an agreement last year with the State Grid Corporation of China on electricity supply to China.