Russian-Chinese Treaty of Good Neighborliness, Friendship, Cooperation establishes institutional framework for qualitative enhancement of trade, economic relations - Lavrov
MOSCOW. July 16 (Interfax) - The Russian-Chinese Treaty of Good Neighborliness, Friendship and Cooperation, signed in 2001, laid a solid foundation for bilateral trade and economic cooperation, Russian Foreign Minister Sergei Lavrov said in an article, marking the treaty's anniversary.
"The treaty established a robust institutional framework for the qualitative enhancement of trade and economic relations. The economies of our respective states are intrinsically complementary. Indeed, the figures speak for themselves. Over the past quarter-century, trade turnover has increased more than thirtyfold and, for three consecutive years, it has consistently surpassed $200 billion. Since 2010, China has remained Russia's principal trading partner, while, conversely, our nation ranks among the top five trading partners of the PRC," Lavrov said in the article, published by the newspaper Kommersant.
Russia's and China's "efforts to refine the structure of our mutual trade continue unabated," he said, adding, "Financial settlements between our countries have been almost entirely converted to national currencies, and the share of transactions conducted in US dollars and euros has diminished to a negligible level."
The volume of bilateral investments keeps growing, Lavrov said.
"The new Russia-China agreement on the promotion and protection of investments, signed and ratified last year, is designed to facilitate further growth in this domain," he said.
The Russian-Chinese interaction in the energy area is strategic, Lavrov said.
"Russia steadfastly maintains its leading position in the supply of oil and natural gas to the PRC, with deliveries that, notwithstanding ongoing geopolitical turbulence, remain reliably stable and predictable. The pipeline infrastructure connecting our countries is well established and continues to undergo further expansion," he said.
"Major joint initiatives in peaceful nuclear energy are progressing successfully, including the construction of Russian-designed power units at the Taiwan Nuclear Power Plant and the Xudapu Nuclear Power Plant," Lavrov said.
"Agreed collaborative projects in the space sector and in satellite navigation are yielding tangible results," he said.
"Cooperation in agriculture is deepening, with trade in agricultural commodities and foodstuffs on the rise," Lavrov said.
"We are working to broaden the spectrum of reciprocal deliveries and to secure market access in China for an expanded range of products of both animal and plant origin," he said.
"The 'Made in Russia' brand enjoys ever-increasing popularity among Chinese consumers," Lavrov said.
"Through the creation of a retail network for authentic Russian products and their promotion on online trading platforms, Chinese customers are afforded the opportunity to appreciate the diversity and high quality of these goods," he said.
"Transport connectivity is being steadfastly strengthened" between Russia and China, which "are endeavoring to enhance cross-border infrastructure," Lavrov said, adding that construction of new border crossing points, bridges and roads was planned.
"The imminent inauguration of a cable car between Blagoveshchensk and Heihe is set to be a landmark event," he said.
"We continue to jointly develop the Northern Sea Route," Lavrov said.
Russia and China have close industrial and technological cooperation and develop their dialogue in science, technology and innovation, including applied research and mega-science projects.
"New platforms for collaborative endeavor, such as the Russian-Chinese Institute of Fundamental Research, are being established. We are broadening practical engagement in information and communications technologies. Notably, I wish to emphasize artificial intelligence technology, the vigorous deployment of which is ushering in new prospects for the economic advancement and national security of our states," Lavrov said.
