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Li starts landmark European mission

China.org.cn, April 27, 2012

Pursuing joint growth

As the two major members of the BRIC nations, China and Russia are devoted to growing their economies for the benefit of their people and to forge closer contacts, Li said.

China is implementing its 12th Five-Year Plan (2011-15), transforming its growth model by putting greater emphasis on consumption.

"Both nations prioritize national development and are committed to social stability, prosperity and improving people's livelihood," Li said.

And this "unites the destiny of the two nations", he said.

Russia entered the World Trade Organization earlier this year.

The World Bank says the WTO entry could increase the size of the Russian economy by 3.3 percent in the medium term and 11 percent in the long term.

Vladimir Putin, the Russian prime minister who will be sworn in as president in May, promised to implement structural reforms to modernize the economy and increase efficiency.

Russia's per capita GDP should rise to $35,000 from a little over $19,000 over the next decade, making it one of the world's top five economies, Putin said. It is currently the 11th-largest economy.

But Putin emphasized that such an ambitious goal cannot be achieved only through depending on the exports of raw materials, the engine of Russian economy over the past decade.

"China welcomes Russian investment and is opening markets wider to Russian companies," said Xu Xianping, vice-minister of the National Development and Reform Commission.

Putin is expected to visit China in June and attend the Beijing Summit of the Shanghai Cooperation Organization, after he takes office in May.

"Li's visit is a good chance to carry forward China-Russia relations and promote the implementation of agreements that have been reached between the two countries' leaders," Xing said.

It will also "pave the way for Putin's visit to China, which the Chinese government attaches great importance to".

Apart from meeting Russian leaders, Li will also meet with people from various backgrounds and sectors.

Li's trip follows closely high-level visits by government leaders to a number of European countries.

Premier Wen Jiabao is concluding a European trip that took him to Iceland, Germany, Sweden and Poland.

Bert De Graeve, chief executive officer NV Bekaert SA and chairman of the Flanders-China Chamber of Commerce, expects Li's visit to Belgium will "contribute to a further improvement of the excellent longstanding relationship" between Belgium and China.