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Large Russia-China Investment Projects Inked at St. Petersburg Forum

© Sputnik / Grigoriy Sisoev / Go to the mediabankSt. Petersburg International Economic Forum
St. Petersburg International Economic Forum - Sputnik International
Chinese Vice Premier Zhang Gaoli wrapped up a visit to Russia on Saturday after the two countries inked a number of major investment cooperation accords.

Zhang was in Russia to attend, among other things, the annual St. Petersburg International Economic Forum, which brought together President Vladimir Putin and leading politicians and business executives from around the world, Xinhua news agency reported.

During his visit, the Chinese Vice Premier also co-chaired the second meeting of the China-Russia Investment Cooperation Committee with his Russian counterpart Igor Shuvalov to discuss a raft range of new large-scale cooperation projects, including the design of a high-speed railway between Moscow and the southeastern Russian city of Kazan.

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Zhang called for greater results in bilateral cooperation on energy, agriculture, space and the development of Russia's Far East region, among many other areas.

The Russian side expressed readiness to expand bilateral practical cooperation into wider areas.

During his meeting with the Chinese Vice Premier, Vladimir Putin expressed readiness to expand bilateral practical cooperation into wider areas and strengthen all-round cooperation with China in politics, trade, economy, culture, people-to-people exchanges, high technologies, infrastructure development and international affairs.

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He added that Russia will also actively advance cooperation on the integration of the Eurasian Economic Union (EEU) and the Silk Road Economic Belt initiative, Xinhua said.

According to official statistics, China's investment in Russia has been growing steadily over the past few years. The volume, including those via third countries, totaled nearly $33 billion by 2014.

Russia was the first leg of Zhang's four-nation trip, which will also take him to Lithuania, Serbia and Kazakhstan.

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