Beijing, Moscow seal more than 30 deals

Beijing, Moscow seal more than 30 deals
Chinese Premier Li Keqiang (R) shakes hand with Russian Prime Minister Dmitry Medvedev.
PHOTO: Reuters

China and Russia have signed more than 30 deals, with Premier Li Keqiang saying that production capacity and equipment manufacturing are two highlights of future co-operation between the two countries.

The deals were signed after the 20th China-Russia Prime Ministers' Regular Meeting in Beijing on Thursday. The talks were co-chaired by Li and Russian Prime Minister Dmitry Medvedev.

Total value of the deals was not disclosed.

The two leaders said in a joint statement that reinforcing the relationship "will be a diplomatic priority for both sides".

They said strengthening co-operation serves the interests of both peoples and meets the need to maintain regional and world peace and stability.

The documents signed cover fields such as energy, investment, finance, high-technology, customs, education and tourism.

The deals included one between China's Silk Road Fund and Russian natural gas giant Novatek, seeking share transfers and with the fund offering a 15-year loan of 730 million euros ($792 million).

During the meeting, Li said the co-operation programs should be effectively implemented, and two-way investment promoted.

He also suggested dovetailing the "Made in China 2025" strategy with Russia's innovation strategy, and promoting co-operation in high technology and innovation.

Xing Guangcheng, a senior expert in Russian studies at the Chinese Academy of Social Sciences, said the two countries should not be too dependent on the resources and energy sectors.

"They have worked well in cutting-edge sectors such as civil aviation, telecommunication, energy-saving and environmental protection," Xing said.

The leaders' calls to strengthen collaboration in innovation oriented sectors are not only aimed at nurturing impetus for growth, but also to help economic restructuring in both countries, Xing added.

At a joint news conference following the meeting, Li said the two countries face the task of adjusting their economic structures, and there is "enormous potential for co-operation".

On Thursday evening, Li and Medvedev attended the closing ceremony for the China-Russia Year of Youth Exchanges and the opening ceremony for the China-Russia Year of Media Exchanges.

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