Russia, China have promising economic projects - Putin

MOSCOW, July 1 (RIA Novosti) - Russia and China have highly promising projects in metallurgy and infrastructure modernization, Russian President Vladimir Putin said Friday after talks with the Chinese leader.

Inter-bank contacts and joint space exploration were also promising areas for cooperation, Putin said. He added that interregional cooperation had broad prospects as well.

The Russian president said that both countries would be able to focus on promising areas and objectives now that their parliaments had ratified an additional state border treaty to put an end to decades of territorial disputes.

"After turning the page in our common history," Putin said, "we can on more specific issues focus our work on promising projects and objectives."

The development of trade, investment, industrial and cooperative contacts was a priority, Putin said.

Bilateral trade increased by a third to over $21 billion in 2004 and this growth trend continued in the first five months of this year, Putin said.

According to Putin, Russia and China have everything necessary to build up business partnership.

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