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    RUSSIA-CHINA: PUTIN'S VISIT TO BOOST COMMERCE

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    XIAN, CHINA, October 16 (RIA Novosti) - Russia's President Vladimir Putin is on the last day of his official visit to China, scheduled for three days.

    The event promises to come as a mighty impetus to bilateral economic contacts-suffice it to mention a partnership agreement Russia's Gazprom and the China National Petroleum and Gas Corporation signed during it. As the document envisages, the two giants will focus efforts on appraising and implementing blueprints for the Gazprom to export Russian natural gas to the CNPC, China's leading oil and gas company. The projects guarantee safe and steady long-term supplies.

    The agreement also envisages teamwork to prospect, extract, pipe and sell petroleum and natural gas, develop Chinese gas piping and distributing networks, build and exploit underground gas-holders, and implement a number of other joint projects, some of them based in third countries.

    The Vnesheconombank, Russia's principal bank for transnational contacts, intends to enhance support of Russian industrial exports to China. Vladimir Dmitriyev, bank president, said so as the Russo-Chinese Business Council sat in session in Beijing, yesterday.

    "To support Russian industrial exports has become principal Vnesheconombank duty in Russian contacts with China. The two countries' leaders have posed a goal-to make a breakthrough in all aspects of bilateral economic ties, and send the bilateral trade turnover skyrocketing. The Vnesheconombank is joining hands with the Roseximbank for practical strides to bolster up contacts with their Chinese-based partners," said Mr. Dmitriyev.

    He highlighted one of such strides-a partnership agreement, which the Vnesheconombank and the Roseximbank signed with the Sinosure export credit insurance corporation and the China Development Bank during President Putin's visit.

    Russia ought to join a Chinese government program to update Northeast Chinese industrial areas, called Wen Jiabao, State Council Premier-an appeal Vladimir Dmitriyev greeted.

    In its contacts with Chinese finance institutions, the Vnesheconombank intends to recur to opportunities offered by its contracts on the G8. Made with leading G8 export and crediting agencies and specialized banks, these contracts concern promotion of joint export ventures for third countries, added the banker.

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