RUSSIA HOPES FOR HIGHER-QUALITY TRADE TURNOVER WITH CHINA

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MOSCOW, AUGUST 4 (RIA Novosti) - Russia hopes for a higher-level trade turnover with China having a greater share of finished products, Russian Vice-Premier Alexander Zhukov said at the meeting on Wednesday with Chinese Commerce Minister Bo Xilai.

"We hope that the quality of trade turnover will improve, the share of machinery and equipment, finished products will increase. We also hope for a rise in investment cooperation and are thinking how to increase frontier trade", Zhukov said.

He noted that, on results of the first six months of this year, trade turnover between China and Russia increased by 30 percent from the same period last year. " I hope that the rate will be preserved", the vice-premier said.

The Russian government attaches much importance to the development of trade-economic relations with China, he said.

"We invariably view China as the crucial trade-economic partner of Russia. The economic component of our relations has of late been developing most dynamically", Zhukov noted.

The main prospects of Russian-Chinese economic relations were in discussion at the sitting on Tuesday and Wednesday of the subcommission for trade-economic cooperation with German Gref, Russian Minister for Economic Development and Trade.

In turn, Bo Xilai added that on Tuesday the subcommission discussed Russia's joining the World Trade Organisation and on Wednesday matters of investment cooperation.

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