Li Keqiang urges closer Sino-Russian ties

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Vice-Premier Li Keqiang addresses the China-Russia Trade and Investment Promotion Forum in Moscow. [Photo: Xinhua] 

The China-Russia trade and economic cooperation have huge potentials and bright prospects, Vice-Premier Li Keqiang said Saturday in Moscow.

China and Russia should work closer together on major projects in energy, high technology and finance, the vice-premier said at the China-Russia Trade and Investment Promotion Forum.

"We should enhance cooperation in strategic and major industries, such as infrastructure, high-tech and processing, as well as seek mutual benefits in natural resources of oil, gas and coal," he said.

He urged both countries to expand two-way investment while aiming to boost bilateral trade.

On Saturday, the two countries signed 27 agreements worth $15 billion, covering the energy, equipment, IT and finance sectors.

Despite the European debt crisis, China is already Russia's largest trading partner and its second-largest export market. China-Russia trade in 2011 surged 42.7 percent on the previous year to $79.25 billion, outperforming the 22.5 percent growth in China's total foreign trade over the same period.

However, Igor Shuvalov, Russia's first deputy prime minister, said, "We can't just stop and be satisfied with the current situation, although it is good. We have to press for further growth through joint efforts."

Li started a four-day visit to Russia on Wednesday. He will also visit Hungary and Belgium.


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