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Russia seeks more Chinese investment and trade

By The Siberian Times reporter
03 December 2012

Chinese investment to Russia-much of it in Siberia-has risen 36% compared with last year, but Russian ambassador to Beijing wants to see a far bigger level.

Sergei Razov, left, in 2010 with President Dmitry Medvedev during a visit to the Russian military cemetery. Picture: kremlin.ru

Trade turnover is up 13.4%  on the same period, the first ten months of this year, while Russian exports to China have risen 12.7%.

'A positive growth trend in the two countries' trade remains, although not so significant as it had been over the last several years', said the ambassador. 

On direct Chinese investment to Russia, this reached $266 million from January to October 2012.

'This is, of course, absolutely not enough,' said Razov.

'Of late China has sharply boosted its investment activity in many regions of the world, but it is rather insignificant in Russia. 

'For instance, in 2011 China's non-financial direct investments in Russia made up a mere half percent of the total volume of China's foreign investments. 

'We persistently persuade Chinese partners to focus in the two countries - economic interaction on expanding mutual investments.'

Sergei Razov, Russia's Ambassador to China, centre

Sergei Razov, centre, with Dmitry Golubkov, Vice President Overseas of Acron Group (left) and Shao Zhujian, General Manager of YSF. Picture: yongshengfeng.com

This comes as Chinese Premier Wen Jiabao this week visits Moscow for talks with President Vladimir Putin and premier Dmitry Medvedev. 

The Chinese Ambassador to Russia Li Hui said the trip will deepen mutual trust, enhance pragmatic cooperation in all fields, and consolidate the two countries' comprehensive strategic partnership.

Ambassador Razov said that the relationship between the two countries was not affected by the changes in political leadership in both countries, with Putin's return to the Kremlin, and the new-look at the helm of the Communist Party in China.

'This is an added proof that Russia-China interaction is of stable and non-opportunistic character while the high intensiveness of contacts at all levels has again demonstrated the striving of the sides to maintain the momentum of development in bilateral interaction', he said. 

Comments (1)

China and everyone else will only invest on a big scale in Russia when the Kremlin shows a friendlier face to the outside world. All the stuff we get now about foreign agents and attacking foreigners as somehow inferior doesn't create the climate of trust which is essential for incoming investment on a big scale. Sure, Siberia has some great opportunities but my bet is they will miss out on foreign investment, from China, Japan and other potential sources (with exceptions of course) until Russia changes its whole outlook on the outside world.
Dr L, Los Angeles
04/12/2012 10:44
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