Russian Premier on joint economic projects with China

The Russian government and Russian business are set for the development of extensive cooperation with their Chinese partners. The governments of the two countries intend to set up a list of joint projects they will take under their patronage, said Prime Minister of Russia Mikhail Kasyanov. He was addressing representatives of Chinese business circles in Shanghai on Wednesday.

Kasyanov said that the Russky Aluminy company's proposal to build an aluminium plant oriented to the delivery of its output to the Chinese market could become one of these projects.

The Russian government would also welcome Chinese investments in the timber processing sphere. Although timber trade between the two countries is on the uprise today, small companies dominate that sphere, which often violate Russian laws, said the Russian premier.

Kasyanov said that priority in that sphere should be given to companies that have won a good reputation and which are engaged not only in lumbering but also in processing timber in Russia for subsequent export to China. The Russian government intends to support precisely such companies.

The Russian Premier singled out among the promising directions of cooperation the project of the development of China's Western regions. Apart from that, the Russian side is interested in cooperating with China in the machine-building sphere, and not only in deliveries to China of its output, but also in creating joint ventures in China, said the head of the Russian government at the meeting with Chinese businessmen in Shanghai.