In a joint statement signed by the two leaders Monday, Hu and Putin noted the vigorous development of trade cooperation between the two countries in recent years.

Russian President Vladimir Putin (R) and his Chinese counterpart Hu Jintao exchange documents after talks in the Kremlin in Moscow March 26, 2007. [Reuters]

With the significantly increasing trade volume, the expanding scale of cooperation in investment, economy and technology, as well as more active regional and enterprise exchanges, opportunities have emerged for a rapid development of bilateral trade cooperation, the statement said.

The two sides will further improve the mechanism of regular prime ministers' meetings and make full of it to push forward the cooperation in various industrial sectors, especially in engineering, electricity and high-technology, said the statement.

According to the statement, Russia and China will also strengthen investment cooperation, encourage and protect mutual investment among enterprises, improve the quality and level of investment, and create a friendly environment for enterprise cooperation.

Both sides pay high attention to energy cooperation between the two countries. Fully acknowledging the achievements already made between the two sides in oil and gas cooperation, China and Russia promised to gradually implement more large-scale energy cooperation projects, support Chinese and Russian companies to make more oil, gas, and electricity cooperation deals, and to cement and develop comprehensive, long-term strategic cooperative relations in energy industry.

In the statement, the two sides also agreed to develop cooperation in other areas such as agriculture, medical treatment, machine building, aviation and automobile manufacturing, the promotion of scientific technologies, and many others.

President Hu arrived in Moscow Monday for a three-day state visit to Russia, during which he will attend events marking "the Year of China in Russia."

In addition to Putin, Hu will meet other Russian leaders to exchange views on the further development of the China-Russia strategic partnership of cooperation.