Vice premiers of China and Russia made a candid and in-depth exchange of views Wednesday on major issues concerning Sino-Russian cooperation, and they hope that the two countries will further tap potential for future bilateral development.

Chinese Vice Premier Wu Yi and Russian Deputy Prime Minister Alexander Zhukov co-chaired the eighth meeting of the committee for regular meeting of prime ministers of China and Russia in Moscow Wednesday.

The two reviewed the work of the committee in the past year, reached consensus on various issues, and made necessary preparations for the upcoming ninth regular meeting of the two countries' prime ministers.

During their meeting, the two focused their discussion on an early completion of negotiations on Russia's entry into the World Trade Organization (WTO), the middle- and long-term goals for Sino-Russian relations, and the promotion of bilateral cooperation in science and technology, investment and other sectors.

The good political relations between China and Russia have laid a sound foundation for future economic cooperation between the two countries, Wu said.

Bilateral trade has been growing for the sixth year, reaching US$12.87 billion in the first eight months of this year or 35 percent up over the same period of last year, according to Wu.

She said bilateral trade for the whole year is expected to reach US$20 billion, a new record in Sino-Russian trade relations.

Zhukov also spoke highly of the remarkable development in cooperation between Russia and China. He said the meeting of the two countries' prime ministers is very important since it enables leaders from both countries to analyze the state of their cooperation and make plans for the future.

Wu left Beijing on Monday for a visit to Russia and Sweden at the invitation of Russian Deputy Prime Minister Alexander Zhukov and Swedish Deputy Prime Minister Lars Engqvist.

Also on Wednesday, Wu and Zhukov launched a website designed to provide services for business people from China and Russia.

(Xinhua News Agency September 23, 2004)