On August 26, 2011, the 14th meeting of the Russian-Chinese Sub-Commission on Trade and Economic Collaboration of the Russian-Chinese Commission for Preparation of Regular Meetings of the Governments took place under the chairmanship of the Minister Elvira Nabiullina and the Minister of Commerce of the PRC Chen Deming at Suzhou (PRC)
In course of the meeting, current state and future prospects of trade and economic collaboration, as well as investment collaboration between Russia and China were discussed.
Participants of the meeting pointed out sustainable development of the bilateral trade and economic relations, in particular, dynamic growth in goods turnover, including frontier trade, expansion of investment interaction, and enhanced collaboration on special economic zones in Russia and China.
At the meeting, they highlighted the importance of fulfillment of the tasks set by the Russian and Chinese leaders as regards to future development of bilateral trade and economic collaboration (including improvement of mutual trade up to USD 100 billion and USD 200 billion by 2015 and 2020, respectively), further development of investment collaboration in the priority areas defined in the Plan for Russian-Chinese investment collaboration, and establishment of a scheme to support promising investment projects implemented by the companies of the 2 countries
In course of the meeting, special attention was paid to establishment of mutually beneficial bilateral collaboration in the field of modernization, including such areas as trade and investments, industry, energy efficiency and energy conservation, peaceful application of atomic energy, space, information and communication technologies, environmental protection, etc.
The parties discussed preparation of a relevant Russian-Chinese memorandum, which is planned to be signed during the upcoming 16th regular meeting of the prime ministers of Russia and China.
Following the results of the meeting, a Protocol was signed and an agreement was reached on arrangement of the 15th meeting of the Sub-commission in 2012 in Russia.
For reference: Russian-Chinese Sub-commission on trade and economic collaboration was established under the Agreement between the Government of the Russian Federation and the Government of the People's Republic of China on establishment and organizational principles of the scheme of regular meetings of the prime ministers of Russia and China dated June 27, 1997.
The 13th meeting of the Sub-commission took place on August 20, 2010 in Moscow.