China Partners with Russia on Localizing Manufacturing Equipment in Russia

Published Date : Nov 16, 2015

Talks are underway between China and Russia on localizing the production of equipment used in energy and mining industries in Russia. The information was shared with media by the Russian Deputy Prime Minister Arkady Dvorkovich on Monday. Mr. Dvorkovich is also the co-chairman of Chinese-Russian intergovernmental commission for energy cooperation between the countries.

Prior to this, the two countries have had also agreed to share technologies and cooperate with each other in agriculture and construction sectors. These two sectors were identified as the most prominent areas of economic cooperation between the countries last month. The officials from both the countries in October agreed that the cooperation was at the early stage of development. However, the latest agreement between the countries to start manufacturing equipment from Russia, is likely to take this strategic collaboration a step ahead. 

Spokespersons from both the countries have agreed that with China becoming one of the main investors in Russia, the potential relationship commencing from agriculture will only develop further in the coming years. Furthermore, owing to the increasing demand for environment-friendly products in China, manufacturers in Russia are expecting lucrative prospects from the country. 

Speaking about the latest development in the strategic partnership, Mr. Dvorkovich said that the countries have also discussed and exchanged views on the delivery of manufactured equipment, localizing equipment in Russia for mining industries, electrically powered equipment and power grid networks. 

Dvorkovich also noted that ideas touted between the countries are aimed at harmonizing the production and supply standards for equipment. 

On Monday, the 12th meeting of the Chinese-Russian intergovernmental commission on energy cooperation was organized in Beijing. The commission was chaired by Arkady Dvorkovich and the Chinese Vice Premier Zhang Gaoli. Among the most important topics on the agenda, the countries discussed about bilateral cooperation in the field of oil and gas and nuclear energy. China and Russia are due to sign a protocol after the meeting.