Russia, China sign investment cooperation plan

MOSCOW-  Russia and China have approved a new plan for bilateral investment cooperation، with the parties signing the corresponding document during the 29th regular meeting of Russian Prime Minister Mikhail Mishustin and Chinese Prime Minister Li Qiang.

The parties have also confirmed the protocol of the eleventh meeting of the Russia-China intergovernmental commission on investment cooperation, an Interfax correspondent reported from the signing ceremony

As reported, the bilateral intergovernmental commission on investment cooperation held a meeting in Moscow at the end of July, during which Russia and China agreed to update the list of significant projects. The list should include more than 60 initiatives with declared investment exceeding $138 billion, First Deputy Prime Minister Denis Manturov, who heads the Russian commission, said earlier.

The relative commission currently oversees more than 80 projects totaling around $200 billion, including large significant and promising investment projects.

Russia’s Industry and Trade Ministry and China’s Industry and IT Ministry have also signed a memorandum of understanding on cooperation in the chemical industry as part of the meeting between Mishustin and Li Qiang on Wednesday.

The respective transport ministries of Russia and China have signed a memorandum of understanding on the matter of promoting the use of highly automated vehicles in cross-border freight transport.

Source: Interfax

Edited by: Nada Haj Khidr