Russian Businessmen, Hong Kong Investors Sign Cooperation Agreement

The heads of the Russian Union of Industrialists and Entrepreneurs and the Hong Kong Association of International Investment yesterday signed a cooperation agreement. According to the Russian Union's press office, the document envisages collaboration between the two organisations in implementing Russian-Chinese agreements in the spheres of cooperation and manufacturing, reciprocal investment, and trade, scientific and industrial collaboration.

According to Arkady Volsky, the head of the Russian Union, in 2002 trade turnover between Russia and China grew to USD 10 billion, which, he believes, 'is not its limit, as there is plenty of unused potential for Russian and Chinese exports.'

The Russian Union maintains permanent contacts with 70 foreign organisations of industrialists and entrepreneurs, and has cooperation agreements with 44 of them.