Li's visit significant for China-Russia trade, economic co-op

MOSCOW - Chinese Vice Premier Li Keqiang's upcoming visit to Russia has far-reaching significance for both sides, says a renowned Russian expert on China-Russia relations.

"From any point of view, the upcoming visit is important to the two countries," Sergey Sanakoev, chairman of the Russian-Chinese Center for Trade and Economic Cooperation, told Xinhua in a recent interview.

It will pave the way for the two giant neighbors to embrace more extensive pragmatic cooperation in the future, Sanakoev added.

Confident about sustained growth in bilateral trade, he also urged the two nations to further improve trade structures and seek a new mode of cooperation.

He noted that the China-Russia investment and trade promotion conference on April 28, which Li is expected to attend, will introduce many large-scale and potential investment projects to Chinese entrepreneurs.

"Bilateral investment still falls short of our expectations," Sanakoev said, adding that many Russian regions are eagerly looking forward to Chinese investment.

Sanakoev said he is optimistic about the goal set by Chinese and Russian leaders for bilateral trade -- to reach $100 billion in 2015 and $200 billion in 2020.

"China and Russia share a common borderline stretching as long as 4,300 km, which means we can exchange more commodities, services and investment," Sanakoev said.

Given that fact, he added, it is "absolutely possible" that the trade volume between China and Russia would reach the level between China and Japan and even that between China and the United States.

He also said the two countries should improve the trade mix step by step. "It would become more and more attractive if the shares of machinery, high value-added and high-tech products can be increased," he said.

In order to improve the trade structure, the Russian side will adopt a series of measures, including increasing the share of mechanical and electrical products as well as high-tech ones in bilateral trade, according to Sanakoev, who is also the executive secretary of the Russian-Chinese Chamber for Trade in Machinery and High-Tech Products.

Citing Russian Prime Minister and President-elect Vladimir Putin's remarks that Russia should let the Chinese wind fill its sails of economic development, Sanakoev said the approach is quite proper.

Russia will take advantage of China's economic growth by promoting cooperation and friendship with China, he added.

Founded in 1998, the Russian-Chinese Center for Trade and Economic Cooperation aims to provide assistance and professional services for participants of bilateral economic and trade cooperation.