Third Session
10th National People's Congress and
Chinese People's Political Consultative Conference

China to Tighten Trade, Economic Ties with Russia

Chinese Premier Wen Jiabao said in Beijing Monday he would discuss with his Russian counterpart Mikhail Fradkov about trade and economic cooperation, particularly that in oil and gas exploration, when they met in the second half of the year.
China and Russia have reached a consensus on energy cooperation, Wen said, citing Russia's promise to enlarge oil export to China to 10 million tons for 2005 and 15 million tons for 2006, based on last year's 9 million tons.
Russian President Vladimir Putin has made it clear that Russia would give first consideration to China in building an oil-gas pipeline in Siberia, he said, adding that the two countries would also strengthen cooperation in oil and gas exploration and development.
China-Russia energy cooperation is an important part of the bilateral cooperative friendship and is based on equality and mutual benefit, Wen said at a press conference shortly after the end of the Chinese NPC's annual session.

Describing the China-Russia relationship over the last few years as being in "the best period" since the settlement of the border issues left over from history, Wen said the two countries had set a goal to expand their trade to US$60-80 million by 2010.

(Xinhua News Agency March 14, 2005)

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