China-Russia co-op fosters regional prosperity

MOSCOW - As giant neighbors and emerging economies in the Asia-Pacific region, the win-win cooperation between China and Russia will promote prosperity in the entire region, according to Chinese Ambassador to Russia Li Hui.

China-Russia trade and economic cooperation was a pillar of Asia-Pacific regional cooperation. The two partners took the growth of each other as crucial opportunities and bilateral cooperation as one of their main priorities, Li said in an article written ahead of the APEC annual meetings in Russia's Far Eastern city of Vladivostok.

In 2011, trade volume between China and Russia reached $83.2 billion. "Bilateral trade growth maintains good momentum this year and will reach the goal of 100 billion dollars in 2015 and 200 billion dollars in 2020," he said.

Meanwhile, mutual investment enjoyed steady growth and cooperation in the energy, high-tech and financial sectors were strengthened in recent years, Li said.

Regional and cross-border cooperation between China's northeast region and Russia's Far East and Eastern Siberia regions also "injected new impetus" into bilateral ties, the diplomat said.

According to Li, closer economic ties between China and Russia not only benefit the two peoples and the two countries, but also contribute to the common growth and prosperity of the entire region.

During the upcoming Economic Leaders' Meeting of the Asia-Pacific Economic Cooperation (APEC) forum this week, Russian President Vladimir Putin would meet his Chinese counterpart, Hu Jintao, on further deepening the two countries' comprehensive strategic partnership of coordination, Li said.

Leaders of the APEC economies would also take this chance to share their visions on the region's future growth, he said.

The Chinese ambassador highly praised the APEC dialogue forum, calling it "a facilitator of trade and investment liberalization, economic integration, technological cooperation and common growth in the region."

The ongoing economic globalization and the interwoven world economy had pushed for reforms of global governance, Li said, adding joint efforts were required to tackle the common challenges of financial volatility, an uncertain recovery, energy security, climate change and natural disasters.

Bearing in mind such challenges, Li said he welcomed the Vladivostok summit, which would help promote collaborative efforts among member economies to get through the hard times.

The forum would also serve to improve peaceful growth, prosperity and harmony of the region, he said.

Li said China had participated in all APEC leaders' meetings in the past and hosted several top-level gatherings. It also set up a joint fund with the forum to provide financial support for technological cooperation in the region.

With constant efforts to facilitate regional integration and social development by fulfilling previous APEC agreements, China had won the recognition of other member economies with its strong commitment.

As another important member of the regional bloc, Russia had made great efforts to strengthen ties with APEC partners and promote regional integration.

As a new host of the gathering, the Russian government was "fully prepared" for the meetings, said the ambassador, adding that China spared no effort to assist Russia in hosting the summit in a bid to deepen bilateral ties.

China would also like to join with Russia and other APEC economies to further upgrade supply chains, strengthen food security and facilitate regional integration.

All these efforts would lead to common prosperity of the Asia-Pacific and balanced, sustainable and innovative growth of the world economy, Li said.

China wished the summit a success and believed the meetings "will bring Russia new opportunities and dynamics to strengthen cooperation with other APEC economies," he said.