On September 10, visiting Premier Zhu Rongji attended the luncheon hosted by Russian business leaders and made an important speech, putting forward the proposals and important measures on how to enhance China-Russia economic cooperation and trade in an all-round way.

Zhu first congratulated upon the achievements made by the Russian people. He said that he attended the fourth regular meeting between Chinese and Russian Prime Ministers two and a half years ago in Russia. Since then, Russia’s national economy has grown at a rapid rate, with rising living standard of the people, social unity and progress and remarkable achievements in city development in particular.

Zhu briefed the more than 160 Russian business leaders present at the luncheon on the sixth regular China-Russia Prime Ministers’ meeting. Zhu noted that the great results achieved by the meeting clearly shows that China-Russia cooperation in economic, trade, scientific and technological and cultural areas has passed the run-in period and embarked on the fast track.

Zhu said that the great achievements of the meeting can be attributed to the Sino-Russian Good-Neighborly Treaty of Friendship and Cooperation signed by President Jiang Zemin during his visit to Russia not long ago and President Putin. The Treaty is an epoch-making, strategic and forward-looking document, pointing out the direction and principle of China-Russia friendly cooperation in the new century. The Treaty laid the foundation of success for the 6th meeting. It needs to be noted that the 6th meeting implemented the Treaty signed by the two heads of state and the ideas contained in the Treaty. Zhu said that in the past, the development of our economic, technological and trade cooperation could not match our good political relations.  From now on economic, technological and trade cooperation between our two countries will equally develop with political relations.

Zhu pointed out that the increasing trade imbalance between the two countries had become a major problem and measures for solutions were put forward in the meeting.

Zhu said that the best solution to the problem of trade imbalance is to establish direct links between the large and medium-sized enterprises between the two countries and let the quality products of China's large and medium-sized enterprises enter the Russian market. It needs joint efforts to get the Russian people familiar with quality Chinese products and let the quality products of China's large and medium-sized enterprises enter the Russian market.

Zhu said that we do not ignore the role played by other channels between China and Russia in trade. But we need more direct contacts and trade between the large and medium-sized enterprises of the two countries for China-Russia economic cooperation and trade to develop forward. The two governments should provide policy to support normal trade between Chinese and Russian large and medium-sized enterprises in tax, the customs, transportation and other areas so that this kind of direct normal trade can develop smoothly.

The Chinese Premier invited Russia to send a delegation of more than 100 entrepreneurs to visit China, where they would be presented with all kinds and prices of quality Chinese products, so they will have an opportunity to select whatever they want from among the best Chinese brands. The Chinese side will provide the best convenience for this kind of export. He hopes that more quality Chinese products will enter the Russian market through this means.

Zhu also called for setting up a trade center for Chinese commodities in Moscow aside from maintaining the Chinese retail stores in Moscow and St. Petersburg. Chinese enterprises can showcase their quality products in the center and conduct retail and wholesale businesses and sign contracts there. Through the center, Russian firms and consumers would get acquainted with high quality Chinese products.

Zhu also welcomed Russian banks and bankers to engage in cooperation, saying that the two sides have much to learn from each other.

Zhu said that as two big countries and Permanent Members of the UN Security Council, China and Russia develop friendly cooperation will not only benefit the two peoples of China and Russia but also exert great influence on world peace and development. In conclusion he expressed the hope and confidence for of the bright prospects of China-Russia cooperative relations. He called for joint efforts of the two sides to build China-Russia friendship for generations to come.

After the speech, Zhu took questions from the Russian entrepreneurs.