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Medvedev's China visit focuses on trade


Medvedev's China visit focuses on trade


Russian President Dmitry Medvedev has been on a two day visit to China, focusing mostly on trade. China is Russia’s second biggest trading partner after the European Union, but its trade is limited with oil, oil products and timber the main exports.

The two countries signed a deal for nuclear cooperation which includes Russia building a nuclear fuel enrichment plant and supplying partially enriched uranium.

Trade between them last year reached 32 billion euros, that is a seven fold increase on 1996 and it is growing by more than 30% a year.

But oil accounted for 4.8 billion euros of Russia’s exports to China and Moscow is keen to sell more than just energy to its neighbour.

However, one of the projects that Medvedev highlighted, while in Kazakhstan en route to Beijing, was the building of a pipeline to China from Siberia’s oil fields.

In an interview, he said the two countries’ state oil companies are close to reaching agreement on that with a view to starting construction later this year.

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