Russian-Chinese trade to be $11bn this year

The trade volume between Russia and China can become twice as much in tenyears or even thrice, Russian Prime Minster Mikhail Kasyanov toldjournalists in Beijing, where he is on an official visit. According to him,the expected trade turnover between the two countries will be more than$11bn this year.The head of the Russian government said that a considerable growth in thetrade volume would become possible due to the implementation of a number ofRussian and Chinese joint projects, in particular in the oil, gas andelectrical energy sectors. Moreover, the Russian party will take part inthe development of the Chinese western provinces. The Prime Minister addedthat a special Russian-Chinese task force had been formed to work on thedevelopment of this direction. Kasyanov also pointed to a project in thehydroelectrical energy sector. A decision on this project has not beenfinally adopted yet, however, according to the PM, Russian companies willbe longing for participating in it. Kasyanov also mentioned projects in themetal industry and the creation of joint ventures producing technologicalequipment..

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