China and Russia agreed in Hangzhou on Friday to improve the trade structure, expand investment and technological cooperation in line with the principle of reciprocity.

 

Vice Premier Wu Yi and her Russian counterpart Alexander Zhukov held a meeting in Hangzhou, capital of east China's Zhejiang Province, to prepare for the regular meeting between the prime ministers due to be held in Moscow in November.

 

Wu said Sino-Russian strategic and cooperative partnership had stepped into the second decade. The bilateral trade had exceeded US$30 billion in the first eight months and could reach record high at the end of the year.

 

She said the two countries had improved the trade structure and cooperation on energy resources, nuclear power, science and environmental protection had made remarkable achievement.

 

She particularly mentioned the two countries should speed up the cooperation on infrastructure and wood intensive processing.

 

Alexander Zhukov said "the Year of China" in Russia had enhanced the cooperation in all fields, the trade between the two countries had increased and enterprises cooperation had been vigorous.

 

He said Russia would hold the Winter Olympic Game in 2014 and the Asia-Pacific Economic Cooperation meeting in 2012, and this would bring about rare chance for economic cooperation between Russia and China.

 

He hoped the two sides would expand machinery and electronic product trade, and strengthen the infrastructure construction of the port and the border trade.

 

After the meeting, the two sides signed an agreement on establishing a trade council on machinery and electronic product.

 

(Xinhua News Agency September 29, 2007)