CHINA-RUSSIA ECONOMIC TIES

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(1228 CR M06)CHINA-RUSSIA ECONOMIC TIESDATELINE: Dec. 28, 2011LENGTH: 00:02:30PKGINTROAfter 18 years of negotiation, Russia, the world's biggest economy outside the World Trade Organization, finally joined the trade bloc earlier this month.In an interview with CNC, a Chinese diplomat says Russia's entry into the WTO will serve as a considerable spur to China-Russia cooperation in trade and investment.PKGLing Ji, minister counselor for economic and commercial affairs at the Chinese embassy to Russia, says Russia's accession into the WTO will create new opportunities for the two countries.Ling says Russia's customs tariffs will be lowered to 7.8 percent from 10 percent after the accession. Meanwhile, the country will also cut down import duties on one-third of its imports, making it easier for Chinese industrial and agricultural products to access the Russian market.The diplomat notes that future expansion of bilateral trade fueled by lower tariffs is only one aspect of the benefits of R
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Producer : Xinhua News Agency

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