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Russian PM to visit China

      RBC, 02.11.2005, Moscow 10:24:56.Russian Prime Minister Mikhail Fradkov will pay an official visit to China from November 3 to 4, the government's press service reported. The premier is expected to hold talks with Chinese leader Hu Jintao, State Council Chairman Wen Jiabao and National People's Congress Chairman Wu Bangguo. The sides are expected to sign, among other things, cooperation and partnership accords between Russian Vneshtorgbank and China Union Pay Company and Chinese telecom corporation ZTE, a source in the Russian delegation told RBC.

      The source commented that Russian-Chinese trade had grown very fast over the past few years. It stood at $5.5bn in 1998, whereas it reached $21.2bn last year and $18bn in the first nine months of 2005. This figure is forecast at $27bn this year. At the same time, Russia is not satisfied with the trade structure, as energy products, timber and other raw materials account for the majority of Russian exports. The share of machines and equipment amounted to 25 percent of Russia's exports to China in 1998, whereas this figure will plummet to 2.6 percent in 2005.

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