Putin discusses state of Russia-China trade cooperation
Updated 08:11, 06-Sep-2019

Russian President Vladimir Putin said Thursday that Russia welcomes Chinese enterprises to invest in the country. 

Putin made the remarks during his meeting with Chinese Vice Premier Hu Chunhua on the sidelines of the Eastern Economic Forum in Russia's Vladivostok. 

"I am very pleased that, firstly, the Chinese partners are the largest investors in the region‘s economy, and secondly, the most important thing is that we are not just talking about the similarity of our geopolitical interests, which is very important, but we are doing concrete work, we achieve good results, we see prospects, and we are confidently moving forward," Putin said. 

Hu said there's been a boost in Sino-Russian economic and trade cooperation in recent years.  

Russia and China are expected to achieve a trade turnover of 200 billion U.S. dollars by 2024. Hu said both sides are working towards the goal. 

"Specifically, we are working not only on developing conventional trade but also on preparing new points of growth – for example, transnational e-commerce. This requires simplifying customs procedures," said Hu. 

On the same day, Hu and Russian Deputy Prime Minister Yury Trutnev held a meeting as chairs of the Intergovernmental Commission for Cooperation of Northeast China and the Far East and Baikal Region of Russia.