The Ministry of Commerce Photo: VCG

China's Commerce Minister Wang Wentao on Thursday held talks in Moscow with Russian Minister of Economic Development Maxim Reshetnikov, with in-depth exchanges on implementing the upgraded agreement between China and Russia on the promotion and reciprocal protection of investments, strengthening trade and investment cooperation, and addressing the US imposition of so-called "reciprocal tariffs," according to the Ministry of Commerce (MOFCOM) on Friday.

Wang noted that under the strategic guidance of the two heads of state, China and Russia have continued to deepen their comprehensive strategic partnership of cooperation in the new era, and economic and trade cooperation has maintained a good momentum of development. The two sides should give full play to the upgraded version of the agreement between China and Russia on the promotion and reciprocal protection of investments, provide a more transparent and fairer business environment for enterprises of the two countries, and continue to promote the high-quality development of China-Russia economic and trade cooperation.

Wang noted that China firmly opposes the indiscriminate imposition of the so-called "reciprocal tariffs" by the US and has taken resolute countermeasures. After a full and comprehensive assessment, China recently decided to hold a high-level economic and trade meeting with the US. 

China's position has been consistent, and its determination to safeguard its own development interests will not change, as well as its position and goal of defending international fairness and justice and maintaining the international economic and trade order, Wang said.

Reshetnikov said that mutually beneficial cooperation between China and Russia is not directed against third party and is in the fundamental interests of both countries. In recent years, trade between the two sides has remained resilient, and cooperation projects in various fields have progressed smoothly. In the future, the two sides should seize the opportunities for cooperation, further deepen industrial cooperation, expand two-way investment and cultivate new growth points, Reshetnikov noted.

Global Times