Russian-chinese Trade Cooperation Develops Dynamically

The trade-economic cooperation between Russia and China has been active during the last two years, said Arkady Volsky, President of the Russian Union of Industrialists and Entrepreneurs, at the 4th session of the Russian-Chinese Committee for Peace, Friendship, and Development. Volsky pointed out that a record for the turnover level in the Soviet- and Russian-Chinese trade had been achieved last year. Russia has become one of China's ten major trade partners. The turnover amounted to $8 billion in 2000, which exceeds the level of 1999 by almost 40%. The growth rate over the first six months of 2001 was even higher, and if it holds, the trade volume may exceed $10 billion. But this is not a maximum limit, according to Volsky. It is necessary to provide for a real breakthrough now. Russian experts think that the two countries' turnover may increase up to $20-25 billion, if last year's package of bilateral agreements is actively implemented. Volsky said that one of the most significant and promising agreements was on the development of the Kovykta gas-condensate deposit containing at least 1,400 billion cubic meters of gas. It is supposed to pipe 20 billion cubic meters of gas to China annually.