Putin, Hu to hold wide-ranging talks in Moscow

Moscow, Mar 19 (UNI) Russian President Vladimir Putin and his Chinese counterpart Hu Jintao will hold discussions on bilateral and international issues, including Iran and North Korean nuclear problems, during the latter's visit to Russia.

Mr Hu will be on an official three-day visit to Russia from March 26 to 28.

The Kremlin press service today said during his visit, Mr Putin and Mr Hu would jointly inaugurate the ceremony to open Year of China in Russia and a Chinese exhibition.

In the bilateral cooperation, Beijing is specially interested in the energy sphere, particularly a 4,700-kilometre Eastern Siberia-Pacific Ocean oil pipeline, which Russia is building to pump up to 1.6 million barrels per day of crude from Siberia to Russia's Far East, to then be shipped to China and other Asia-Pacific states.

Moscow said it plans to diversify Russian exports to China by adding high-tech equipments to its traditional export commodities, oil and gas, timber, pulp and paper, and military equipments.

Chinese exports to Russia traditionally include inexpensive clothes, consumer electronics, and manufacturing equipment. But the share of high-tech products has increased to 24 per cent over the last two years.

The bilateral trade turnover has already reached over 26 billion dollars and the two countries plan to increase it up to 60-80 billion dollars by 2020.

UNI