Russian ambassador: China to be second largest trade partner of Russia

Trade between Russia and China is expected to top 27 billion US dollars in 2005, which will make China the third or second largest trade partner of Russia, said Russian Ambassador to China Sergey Razov here Wednesday.

Economic and trade cooperation between Russia and China has maintained good momentum since the beginning of the year, Razov told an economic and trade promotion launched by Russia's Novosibirskaya Region in the Chinese capital.

After the two-way trade surpassed 20 billion dollars last year, the two countries set a new goal to increase the annual trade 60 billion to 80 billion dollars before 2010.

"Strengthening regional cooperation between the two countries will play a pivotal role in realizing the goal," said Razov.

To beef up regional cooperation is one of the key issues that leaders of both countries attach great importance to. Chinese President Hu Jintao said in July when he met with local leaders of the Novosibirskaya Region that China and Russia have great potential and broad prospect in boosting regional cooperation.

Hu said the two countries should seize the opportunities and make joint efforts to promote China-Russia strategic cooperative partnership and to score more substantial achievements in regional cooperation.

The Novosibirskaya Region, located in the central Russia, boasts abundant mineral resources and advanced technology in machinery, metallurgical and food industries. The capital city of the region, Novosibirskaya, is the third largest city of Russia, and also one of the major science cities in the country.

Source: Xinhua