Russian business association chief notes importance of industrial cooperation with China

It is believed that rapid progress in this direction would be very beneficial for the Russian economy, particularly in such sectors as car manufacturing, electronics and equipment

In cooperation with China the issue is about building industrial cooperation, which is a promoted area amid the current aspects of partnership between the two countries, President of the Russian Union of Industrialists and Entrepreneurs (RSPP) Alexander Shokhin said.

"It is obviously not so much related to trade relations, an increase in trade turnover, here there is also great potential connected with supply of both Russian hydrocarbons and food, and a number of other products of our traditional export to China. But the issue is also about building industrial cooperation, and I consider this area of cooperation to be more promoted within production and the component base, components, etc. We are currently saying much about the possibilities of parallel import, but when speaking about cooperation with China the issue is about establishing the production of original details, components for Russian partners," he told a conference as part of the St. Petersburg International Economic Forum (SPIEF) on Thursday.

Shokhin believes rapid progress in this direction would be very beneficial for the Russian economy, particularly in such sectors as car manufacturing, electronics and equipment.

Share