German O. Gref, Minister for Economic Development and Trade of the Russian Federation, Participates in the Eighth Meeting of the Russo-Chinese Sub-Commission on Trade and Economic Cooperation Held in Beijing, China, on August 12-13, 2005
2005-08-15
Source:
The Eighth Meeting of the Russo-Chinese Inter-Governmental Sub-Commission for Trade and Economic Development took place in Beijing on August 12-13, 2005. The Russian delegation was headed by Mr. German O. Gref, Minister for Economic Development and Trade, and the Chinese one, by Chinese Commerce Minister Bo Silai.
Mr. A.A. Kaulbars, Director, Department for Governmental Regulations of Foreign Trade Operations and Customs Affairs, and Mr. A.V. Karpich, Deputy Director, Department for Foreign Economic Relations, also took part in the meeting of the Sub-Commission from the Russian side.
The Sub-Commission on Trade and Economic Cooperation is a key body of the Russo-Chinese Commission for preparation of regular meetings of heads of governments, a regular meeting of which will be held late in October 2005 in China, on the eve of a meeting between premiers of the two nations.
The meeting of the Sub-Commission carried out a comprehensive analysis of new trends in the bilateral trade and economic cooperation. In 2004, the scope of mutual trade amounted to $ 21.3 billion, a 34.7% increase on 2003. Thus the objective set by Russian President Vladimir V. Putin and Chairman of the People’s Republic of China Hu Jintao to push up sales turnover to $20 billion has been fulfilled ahead of time. The trend towards rapid growth in Russo-Chinese trade maintained in 1H05 when sales turnover soared by 28.9%, to $ 12.28 billion.
During the meeting, Mr. German O. Gref pointed out that comprehensive development of bilateral cooperation is sustainable, which would enable, by improving the sales turnover structure through increase in the share of machinery and equipment in it, to intensify mutual investment cooperation, to further develop near-border and inter-regional trade and economic relations to push up bilateral trade to $60-80 million by 2010.
The meeting of the Sub-Commission appreciated results of the Second Meeting of the Russo-Chinese Standing Task Group on Investment Cooperation, which was held in Beijing in August 10, 2005.
With the Program for Development of Russo-Chinese Trade and Economic Cooperation for 2006/2010 being developed by the Russian Ministry for Economic Development and Trade and the Chinese Commerce Ministry, Mr. German O. Gref suggested that the Program should be made as effect-oriented as possible and that a list of specific steps aimed at implementing the key Program provisions should be drafted.
Mr. German O. Gref stressed the need in accelerating work on streamlining “unorganized” trade as part of the joint task group, the second meeting of which was held in Beijing on August 10, 2005. Mr. German O. Gref called strengthening of relations between customs authorities in information exchange on commodities and vehicles crossing the border, assistance to Chinese participants in foreign economic operations in arranging for customs clearance of Chinese goods in Russia, in accordance with Russian law, among the principal steps in this direction.
Mr. German O. Gref proposed that customs authorities of Russia and China should expedite signing of the appropriate memorandum on cooperation in the said directions.
Mr. German O. Gref and Bo Silai also exchanged opinions on the ways to intensify work on the draft intergovernmental agreement on promotion and mutual protection of capital investments as well as on conditions of trade in meat and agricultural products between the two nations.
Minister German O. Gref noted the important practical significance of the arrangements established by the Russian Ministry for Economic Development and Trade and the Chinese Commerce Ministry for early warning of and advice on sensitive commodities in bilateral trade and expressed serious concern about the situation with import of number of chemicals by railway from Russia to China. The Chinese side expressed understanding of this concern and willingness to facilitate bringing trade in chemicals back to normal.
German O. Gref informed of the decision to hold the National Exhibition of Russia in China in Beijing late in 2006. The display will be mostly devoted to demonstration of trade, investment, scientific and technical options of the Russian Federation and its constituents. The parties also agreed to jointly hold the Russo-Chinese Economic Forum in China in 2006.
The meeting of the Sub-Commission declared its support to some particular major bilateral projects implemented in Russia and China in such areas as power engineering, metallurgy, pulp industry, vehicle, ship-building industry, and infrastructure facilities construction.
The Department for Foreign Economic Relations of the Russian Ministry for Economic Development and Trade took an active part in preparation for and holding of the Eighth Meeting of the Sub-Commission on Trade and Economic Cooperation.
