00:00Our Commission's practical activities are in line with the agreement between our leaders.
00:08They have a regular dialogue, which is based on a high level of trust and mutual understanding.
00:16During the talks, we noted the need to strengthen investment ties
00:20and create a fair, transparent and predictable business environment.
00:24These are essential conditions for further expanding industrial and technological cooperation,
00:31improving transport links between Russia and China, and increasing mutual trade.
00:37We have achieved some great progress in this area over the past four years.
00:42Our bilateral trade has more than doubled, reaching 245 billion U.S. dollars.
00:48This year, we are seeing a slight decline owing to market trends and negative external factors.
00:55We need to make additional efforts to return to growth.
00:59The updated Intergovernmental Agreement on Promotion and Mutual Protection of Investments, signed May,
01:06was a well-timed step in this regard.
01:09The Russian side ratified this document a few days ago, and it will come into force in December.
01:16It creates more stable and favorable conditions for cross-border capital movements.
01:22In particular, the agreement provides for faster licensing procedures for investments.
01:29The document also improves the mechanisms for settling disputes between investors and the state,
01:35and clarifies the protection guarantees against asset expropriation.
01:40In addition to such comprehensive solutions, our Commission's task is to develop targeted measures to support priority projects.
01:49Chinese Vice Premier, Mr. Ding Xiu Eshiang, and I discussed this in detail before the plenary session.
01:57Today, the Intergovernmental Commission is focusing on a project portfolio worth more than $200 billion.
02:04More than half of this amount accounts for 63 significant projects, 46 of which are already being implemented.
02:14These mainly involve initiatives to develop transport and logistics infrastructure, metallurgy, chemistry, mechanical engineering, forestry, agriculture, and trade.
Be the first to comment