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Russia, China To Sign Deals Worth $7 Billion

Russian Prime Minister Vladimir Putin

Russian Prime Minister Vladimir Putin

Russia and China are reportedly planning to sign some 20 business agreements worth $7 billion when Prime Minister Vladimir Putin visits Beijing this week.

Russian Deputy Prime Minister Aleksandr Zhukov, who co-chairs the Russian-Chinese Intergovernmental Commission, told the "Kommersant" daily that the package includes projects concerning the development and production of machinery "necessary to modernize the primary industries of the Russian economy, extraction of natural resources," as well as cooperation in "energy efficiency, the use of renewable sources of energy, and bio-energy."

Yuri Ushakov, the government's deputy chief of staff, told reporters that Putin has no plans to sign a gas-pricing deal with China during his visit.

Pricing disagreements have prevented signing of a firm energy deal that could eventually see almost 70 billion cubic meters of Russian gas sent to China annually for the next 30 years.

Accompanied by a delegation of businesspeople, Putin is scheduled to visit Beijing on October 11-12 for talks with Chinese Prime Minister Wen Jiabao and President Hu Jintao.

compiled from agency reports

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