China, Russia Look to Increase Trade Cooperation
China and Russia signed several trade-related agreements when the two sides met in Russia last week, China’s Ministry of Commerce said in a Sept. 19 press release. The two countries signed a “number of pragmatic cooperation documents” to expand trade and “voice support for the multilateral trading system,” China said, according to an unofficial translation. The two sides said they support the World Trade Organization and announced their intention to ratify an “upcoming ‘China-Eurasia Economic Union Economic and Trade Cooperation Agreement,’” China said.
Sign up for a free preview to unlock the rest of this article
If your job depends on informed compliance, you need International Trade Today. Delivered every business day and available any time online, only International Trade Today helps you stay current on the increasingly complex international trade regulatory environment.
In a Sept. 17 statement, Russian Prime Minister Dmitry Medvedev said the two countries are already working on “large-scale projects” in the auto field, aircraft manufacturing, pharmaceuticals and agriculture, including soybeans and livestock. Growth areas for boosting volume include “implementing joint energy, industrial, hi-tech and agricultural projects. Of course, we think it is important to promote new forms of trade and an e-services system,” he said.