Dmitry Rogozin and Wang Yang open Russian-Chinese Expo

Russian Deputy Prime Minister Dmitry Rogozin and Chinese Vice Premier Wang Yang opened the 2nd Russian-Chinese Expo in Harbin, which will continue until 16 October. During the ceremony, the Russian Deputy Prime Minister expressed his gratitude to Wang Yang for his "personal contribution".

The 3rd Russian-Chinese Expo will be held in Russia, Rogozin said. "We are now choosing the best venue among the candidate cities, on the understanding that it will be assigned permanent status," RIA Novosti cited him as saying.

This year, the Russian exposition at the exhibition will reach 3000 square metres. The exhibition is organized by the Ministry of Industry and Trade of the Russian Federation, the Russian Ministry of Economic Development, the Ministry of Commerce of the People's Republic of China and the People's Government of Heilongjiang Province.

Rogozin said that today’s Expo is a preparation for Prime Minister Dmitry Medvedev’s visit, who travels to China in mid-December.

Following the talks with Wang Yang, the deputy chairman of the Russian government said that Moscow and Beijing intend to conclude a comprehensive agreement in the field of nuclear energy. "If we are talking about the nuclear sphere, there is serious understanding of the possibility and necessity of making a comprehensive agreement on cooperation in the atomic sphere that encompasses different projects, including floating power units and further cooperation not only on the territory of China, but also the possible entrance of Russia and China together to the construction markets in third countries," he said.

According to Rogozin, they discussed the Chinese Lunar Exploration Program and Russia's intention to help in the creation of China's lunar rover. Rogozin also said that China and Russia agreed to extend subsidized loans to expedite work on joint long-haul aircraft and heavy helicopter projects.

"In particular, we have to overcome dependence on third countries for heavy helicopter engine development," the Russian Vice Premier said, adding that the aircraft would not be a copy of Boeing or Airbus.

"We must enter the market with a product that will drop the jaws of potential buyers. That is the goal that we must aspire to," he stressed.

Finally, Rogozin said Russia may sign an agreement to deliver rocket engines to China and on reverse supplies of microelectronics from China, which Russia needs, including for space apparatuses, during Prime Minister Dmitry Medvedev's visit in December.

The director of the Russian Center for the Study of Asia-Pacific Economic Cooperation, Natalya Stapran, told Vestnik Kavkaza that the second Russian-Chinese Expo will allow Russia to substantially strengthen industrial ties with China. "The EXPO will attract investment to our industry, as well as report about the possibilities of Russian and Chinese businesses. For Russia, this is a good chance to promote their economic interests and develop Russian-Chinese cooperation," she said.

The Associate Professor of the stock markets and financial engineering department of the Faculty of Finance and Banking of RANEPA, Sergey Hestanov, in his turn, said that such exhibitions allow the contradictions in Russian-Chinese economic relations to be straightened out. "On the one hand, the importance of China as a trade and economic partner is increasing, but on the other hand, the slowing of both the Russian and Chinese economies has led to a decrease in turnover. Therefore, the purpose of the exhibition is to strengthen trade and economic relations," he explained.

"Due to the presentation of goods and services at the exhibition, on the one hand, it is easier to find a sales partner, on the other hand, the exhibition allows the manufacturers who produce competitive products to find buyers for their products," Sergey Hestanov concluded.