China and Russia signed import and export contracts worth US$2.5 billion at the 15th China Harbin Fair for Trade and Economic Cooperation (CHTF), which ended on Saturday in the capital of northeast China's Heilongjiang Province.

The Russian deals account for three-quarters (74.8 percent) of the total contracts signed at this year's fair.

Border trade plays an important role in the economy of Heilongjiang, the northernmost province of China, which shares a 3,000-kilometre border with Russia, and the provincial government established a Russian Exhibition Hall at this year's fair. It also took the unprecedented step of holding a China-Russia forum and meetings for traders from both sides of the border.

"Heilongjiang has always given priority to trade with Russia in its cooperation with foreign countries," said provincial Vice Governor Wang Limin. "We are determined to increase trade with Russia this year."

The province contributes one-fifth of the total trade between China and Russia. The figure is expected to soar this year.

As a chief trade partner of Heilongjiang Province, Russia has responded positively to movement by its neighbor.

"China's efforts to reform the industrial base in the northeast region are essentially changing the regional supply and demand policies, and opening new opportunities for Russia's bilateral trade with China," said Konstantin Pulikovsky, the presidential envoy to the Far East of Russia. "Heilongjiang Province is an important base for China's commodity grain, energy, equipment and petrochemical industries. We are willing to cooperate with our neighbor in every way to achieve mutual prosperity."

Headed by Pulikovsky, a Russian delegation of more than 400 people took part in the five-day fair in Harbin. The Russians displayed not only export products but also investment projects.

(China Daily June 21, 2004)