Wu Bangguo meets with Russian PM

Wu Bangguo meets with Russian PM

China and Russia should join hands in promoting bilateral trade and economic cooperation with concrete measures, visiting Chinese top legislator Wu Bangguo said Wednesday when meeting with Russian Prime Minister Mikhail Fradkov.

Wu, chairman of the Standing Committee of the Chinese National People's Congress, said that Sino-Russian relations has witnessed unprecedented development in recent years and China will work with Russia to fully implement the Good-Neighborly Treaty of Friendship and Cooperation and raise the strategic relationship to a new level.

Describing trade and economic cooperation as an essential part of Sino-Russian relations, Wu said bilateral trade and economic cooperation has enjoyed sustained and rapid development in recent years.

Considering sound political relations, geographical advantage, dynamic economic growth in both countries, established consultation mechanism and common aspiration for strengthened cooperation, there is still great potential for further development of bilateral trade and economic cooperation, said the Chinese top legislator, who is on a seven-day official goodwill visit to Russia.

He suggested that some concrete measures be taken by both countries to fulfill the potential, including amplifying laws and regulations and tightening law enforcement to safeguard foreign citizens' legitimate rights, enhancing trade structure by increasing direct investments and technological cooperation in addition to original commodity trade, promoting regional cooperation and solving problems with the established consultation mechanism.

Reiterating China's support for Russia's early entry into the World Trade Organization (WTO), Wu said China is willing to be one of the first countries to sign a bilateral market access protocol with Russia and undertake bilateral cooperation within the framework of WTO regulations on the basis of equality and mutual benefits.

He also conveyed Chinese Premier Wen Jiabao's greetings to Fradkov.

Echoing Wu's proposals, Fradkov said that Russia is willing to exchange with China the experiences in the reform of market economic system and make joint efforts to improve trade structure, regulate trade order and promote economic cooperation.

He stressed that it is a unswerving guiding policy of Russian President Vladimir Putin and the Russian government to promote the Russian-Sino relations of strategic partnership.

Russia will take substantial measures to fully implement the Good-Neighborly Treaty of Friendship and Cooperation and further promote bilateral trade and economic cooperation and exchanges in other fields, said Fradkov.