Russian Prime Minister Mikhail Kasyanov inked several deals on November 3rd with Chinese Premier Zhu Rongji aimed at strengthening Moscow’s economic ties with China.
Kasyanov signed the deals in Beijing before meeting with President Jiang Zemin in the hopes of cementing a new “strategic partnership” between the two countries. Kasyanov and Zhu secured a deal to conduct a feasibility study on a gas pipeline to supply China with 20 billion cubic meters of gas per year for 30 years.
The pipeline would run from the Kovyta gas field near Irkutsk in Siberia to China and would also transport 10 billion cubic meters of gas a year to South Korea via China. In addition, the two leaders agreed to a five-year pact aimed at increasing bilateral trade from its current level of $5 billion.
The Russian Finance Ministry also signed a pact with the Jiangsu Nuclear Power Co. Ltd. regarding construction of the Tianwan nuclear power plant in the eastern province of Jiangsu and the conditions of Russian loans for the project.
The agreements signed between the two countries included forestry, taxation, land and mineral exploitation and standardization as well.