President Hu Jintao said ahead of his upcoming visit to Russia that China-Russia trade would reach US$60 billion to US$80 billion by 2010.

 

"I believe the trade volume of the two countries would surely meet the target of US$60 billion to US$80 billion by 2010 with deepening bilateral strategic partnership of cooperation," Hu told Russian journalist on March 20.

 

Hu highlighted China-Russia trade cooperation, saying bilateral trade had maintained rapid increase in eight consecutive years and reached US$33.4 billion in 2006.

 

China and Russia had enjoyed sound cooperation on areas such as energy development, space flight and aviation, nuclear power, mechanics, high-tech industry, said Hu, adding that some Chinese enterprises showed interests in areas like household appliance, automobile assembly, infrastructure and economic zone in Russia.

 

"The Chinese government encourages and supports enterprises to carry out reciprocal cooperation with Russia, and hopes the Russian side could provide more favorable conditions in terms of improving investment environment and opening market," Hu said.

 

Hu also welcomed more Russian enterprises to invest in China, saying total Russian investment in China exceeded US$600 million by the end of 2006.

 

President Hu will pay a state visit to Russia from March 26 to 28.

 

(Xinhua News Agency March 26, 2007)