China, Russia Look to Increase Trade Cooperation

China and Russia signed several trade-related agreements when the two sides met in Russia last week, China’s Ministry of Commerce said in a Sept. 19 press release. The two countries signed a “number of pragmatic cooperation documents” to expand trade and “voice support for the multilateral trading system,” China said, according to an unofficial translation. The two sides said they support the World Trade Organization and announced their intention to ratify an “upcoming ‘China-Eurasia Economic Union Economic and Trade Cooperation Agreement,’” China said.

In a Sept. 17 statement, Russian Prime Minister Dmitry Medvedev said the two countries are already working on “large-scale projects” in the auto field, aircraft manufacturing, pharmaceuticals and agriculture, including soybeans and livestock. Growth areas for boosting volume include “implementing joint energy, industrial, hi-tech and agricultural projects. Of course, we think it is important to promote new forms of trade and an e-services system,” he said.