Russian Minister of Industry and Trade Denis Manturov held a series of talks and working meetings at the 17th St Petersburg International Economic Forum.
During his meeting with Lu Hao, Governor of China’s Heilongjiang Province, the Russian Minister of Industry and Trade said, “Russia is set to increase trade with China to $200 billion by 2020. We think this figure is ambitious but absolutely attainable, first of all by setting up joint ventures both in Russia and in China.”
In this connection, Mr Maturov expressed satisfaction with the results of the 8th Meeting of the Russian-Chinese Sub-Commission on Cooperation in Civil Aviation and Civil Aircraft Manufacturing held in Ufa on June 14, 2013. He proposed to hold the group’s next meeting in Heilongjiang Province.
Mr Manturov and Mr Lu Hao also discussed prospects of the two nations’ cooperation in civil aircraft manufacturing, consumer goods production and the timber complex. In the course of the negotiations the parties stressed a special role of interregional interaction of both countries.
“We lay a special emphasis on that. There is already a number of successfully operating enterprises. I know the province you head also has some of them. Besides, it is in Heilongjiang Province that the Harbin International Fair is held every year. We are confident that this will allow for detailed and expanded cooperation between the companies of our two countries,” the Minister emphasised. He also suggested the joint Memorandum on Cooperation in Exhibition and Fair Activities is expanded if necessary.
The Governor backed the principled stand of the Russian Minister regarding the need for an enhanced investment component and technology exchange to boost the bilateral trade and economic relations.
In conclusion Mr Lu Hao wished Russia good luck in its bid to hold the Expo 2020.
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Russian Minister of Industry and Trade also had a meeting within the framework of the Forum with Hubertus von Grunberg, Chairman of the Board of the Swiss-Swedish ABB Group (Asea Brown Boveri Ltd).
During the meeting, the Minister noted with satisfaction that the ABB Group’s activities in Russia are not limited to contractual supplies of technology and equipment but also involves manufacturing.
Mr Manturov also noted the considerable investments the Group has made in the Russian economy. “According to our data, ABB’s total turnover in Russia averages $800 million a year,” the Russian Minister of Industry and Trade said. However, the Minister underlined that he expects the Group to expand the manufacturing component in Russia and other Customs Union countries.
Mr Manturov and Mr Grunberg discussed possible ways to increase ABB’s local manufacturing in Russia.
Source: Ministry of Industry and Trade
