China is determined to encourage Chinese companies to expand business and invest in Russia, Chinese Premier Wen Jiabao said in a recent interview with Russian media.
Wen had an interview with Itar-Tass News Agency and Interfax News Agency in Beijing before making an official visit to Russia next week.
During the interview, Wen stressed the importance of trade and economic cooperation between China and Russia.
China has set a target of boosting investment in Russia to a total of 12 billion U.S. dollars by 2020. Wen said Chinese companies have invested in a wide range of fields in Russia, including mining, energy, electricity, manufacturing, infrastructure, agriculture, fishery and forestry.
Wen said the two countries should strengthen cooperation not only in the energy sector, but also in the field of machinery and electronics. He said this requires a bigger role for the China-Russia Machinery and Electronics Product Council, which is to be officially unveiled in November. Wen said the council should be turned into a platform for bilateral cooperation in the field of machinery and electronics.
Wen said the countries should also attach importance to cooperation on science, technology and environment protection. He called for the two countries to continuously open up new areas of cooperation.
Wen said investment by Chinese companies will help push forward trade and economic cooperation between the two countries. Trade volume between China and Russia will probably exceed 40 billion U.S. dollars this year. The figure is expected to reach 80 billion U.S. dollars by 2020.
"In respect of trade, (we) should not only increase the volume, but also improve trade structure and quality," Wen said.
Wen expressed the belief that according to an investment protect agreement signed between the two countries, the Russian side will protect the lawful rights of Chinese companies and facilitate their investment.
"We also welcome Russian companies to invest in China," Wen said.
Source: Xinhua
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