Moscow and Beijing have agreed to increase bilateral Sino-Russian trade from $65bn last year to $200bn by 2020, Russia’s Foreign Minister Sergei Lavrov said this week. Speaking at the Russian Council for International Affairs second ‘Russia & China ‘ conference in Moscow, he said (more…)
Turkish President Recip Erdogan has paved the way for construction of the Turkish Stream pipeline to begin after officially ratifying the Russian-Turkish accord concerning a new natural gas pipeline running from Krasnodar in southern Russia, along the bed of the Black Sea to Turkish Thrace. The announcement (more…)Vedomosti Read More»
A number Japanese companies and banks are considering participating in the financing and construction of the third stage of the Sakhalin 2 LNG project in Russia’s Far East, it has emerged, as Japan managed to steal the show at last weekend’s Eastern Economic Forum in Vladivostok by signing some 20 agreements (more…)ITAR-TASS Read More»
UK-China free trade deal: The UK’s new Chancellor of the Exchequer Philip Hammond has begun discussions with China about the possibility of forging an ambitious free trade deal which could see major Chinese banks and businesses being granted greater access to the UK economy. In an interview (more…)bbc Read More»
Turkish coup: Turkish Foreign Minister Mevlut Cavusoglu today expressed his country’s gratitude to Russia for its “unqualified” support during the attempted military coup earlier this month and indicated that Presidents Erdogan and Putin would be meeting at next month’s G20 meeting in Hangzhou, when the two men would discuss “the removal of economic barriers and other steps to restore relations.”
According to reports in the Iranian Farsnews media agency last week, the speed with which the coup was thwarted in part due to intelligence supplied to Ankara by Russian listening stations in northern Syria and which may have forced the plotters to move sooner than planned.
EU-China trade:The president of the European commission has warned China that it must stop dumping cheap steel in Europe or it could fail to gain market economy status with the World Trade Organisation, which Beijing is desperate to secure.
Jean-Claude Juncker said that Beijing and the EU had agreed to establish a working group to discuss the crisis in the steel industry and monitor steel shipments from China.
“The EU will defend its steel industry. We are not defenceless, and we will use all the means at our disposal,” Juncker said in Beijing after talks with the Chinese government.
An increase in cheap Chinese steel being imported into Europe has been blamed for the crisis facing the industry, which has put thousands of jobs at risk in the UK and across the continent. China makes more than half of the world’s steel but is suffering from slowing domestic demand. In the first quarter of the year Chinese steel exports to the EU rose 28%, driving prices down by more than 30%.
Speaking at the same forum Chinese Premier Li Keqiang said that the two sides should “properly deal with” trade disputes, oppose trade barriers and speed up negotiations on a China-EU investment treaty.
In addition to accusations of dumping, trade relations between the two sides have also been put under pressure by long-standing complaints from European enterprises working in China about unfair restrictions that make it difficult for them to compete with local rivals. Foreign companies would soon enjoy the same treatment as their Chinese counterparts, Li promised, with the government continuing to reform its foreign investment management system, ease market access, enhance intellectual property protection and guarantee the legitimate rights of all types of enterprises, and remaining committed to creating a fair, transparent and expectable investment environment.
He called for European companies to invest more in China’s advanced manufacturing, service industry and the central and western parts of the country, “We want trade between China and Europe to grow on a stable platform,” he said.
China is now the EU’s second biggest trading partner behind the United States while China sells more goods and services to the EU than anywhere else in the world.
The governments in Tehran and Ankara have agreed to a €80m oil for rail swap that will see Turkey provide Iran with 1,000 of rail girders in return for supplying the TÜPRAS with oil. The girders will be used to develop Iran railway network as part of a program that is expected to cost $8n over the next six years.
With only 13,000km (more…)
EEU-China trade deal: The Russia-led Eurasian Economic Union (EEU) is starting negotiations on a trade deal with China and hopes to sign it off within two years, Russia’s First Deputy Prime Minister Igor Shuvalov has said while conceding that the talks would be “very difficult”. (more…)reuters Read More»
Silk China looking to Qatar as a key partner in its efforts to establish a new Silk Road stretching between Asia and Europe, Foreign Minister Wang Yi told the Xinhua News Agency last month after a meeting wth Qatari head of state Emir H Sheikh Tamim Bin Hamad Bin Khalifa Al Thani in Doha. He also confirmed (more…)yibada Read More»
South Stream: Russia is still interested in working out a way of building a pipeline along the bed of the Black Sea as a means of transporting gas to Europe via the Balkans, President Putin told the Greek newspaper Kathimerini in an interview published today to coincide with his visit to Athens.
Xinjiang and Kazakhstan have signed a package of five energy, agricultural, and industrial projects worth more than $2 billion as Beijing moves ahead with its One Belt, One Road strategy of developing trade and transport links across Asia and beyond. The deals were struck (more…)Times of Central Asia Read More»
“We may consider a trilateral partnership,” its President for Russia and the CIS Dietrich Moeller told Vedomosti in an interview published yesterday. “We [already] have a joint venture with the Russian Sinara group and excellent relations with China in the field of train production. We have also provided both countries with our Velaro technology.”
Iranian exports to Russia: Iran plans to increase its exports to Russia from $500m to $2bn in the new Iranian fiscal year that starts next week, the business magnate and member of the Iran-Russia Joint Chamber of Commerce Asadollah Asgarolad said yesterday. A large proportion of the increase in trade would probably be (more…)TREND Read More»