China "firmly supports" Russia to enter the World Trade Organization (WTO) at an early date, according to a Sino-Russian joint statement issued Thursday.

China and Russia have concluded bilateral talks on Russia's WTOentry and signed related documents, recognizing each other as fullmarket economies, which is a major illustration of the Sino-Russian strategic partnership of cooperation, the statement says.

China is willing to enhance cooperation with Russia within the WTO framework under the principles of mutual respect, equality andmutual beneficial after Russia's WTO accession, it says.

Issued during Russian President Vladimir Putin's three-day state visit to China which began Thursday, the statement highlighted Sino-Russian economic and trade cooperation, especially in energy and investment aspects.

To deepen the cooperation is a key factor in consolidating and promoting the Sino-Russian strategic partnership of cooperation, it says.

Sino-Russian economic and trade cooperation has witnessed soundmomentum and the goal for an annual trade volume of 20 billion US dollars is very possible to be achieved this year, the statement says. But the potential has not yet been fully explored.

The two countries will adopt effective measures, formulate a medium- and long-term blueprint for all-around cooperation and optimize trade components, it says.

The two countries will expand trade of electronic and machineryproducts, improve the forms and methods for economic and trade cooperation and investment, focus on large cooperation projects and seek substantial progress in energy cooperation.

The two sides will also expand cooperation in peaceful use of nuclear energy and enhance scientific and technological cooperation in prior fields such as spaceflight, nuclear energy and other kinds of power, new material, chemical industry, biotechnology, communication and information technology, statementsays.

The two sides hold that it is of profound significance to establish an organization of Chinese and Russian entrepreneurs forfurther trade and economic cooperation between the two countries. Both sides welcome convening of the first meeting of the Sino-Russian entrepreneurs council in Beijing within the framework of the Sino-Russian Committee for Friendship, Peace and Development.