"Russia and China need to diversify the structure of bilateral trade," Zhukov said at a meeting with Chinese entrepreneurs.
Zhukov said that despite a considerable growth in trade turnover, Russian exports to China were represented mainly by raw materials, including timber, metals, ores, fertilizers and cellulose, which all together accounted for some 90% of Russian exports this year.
"To further increase the volume of our economic-trade ties, we need to develop such forms of cooperation as production cooperation, mutual investment [and] joint mastering of advanced technologies," the deputy prime minister said.
Zhukov's Chinese counterpart Wu Yi said trade turnover so far this year had almost reached $21 billion - the figure for all of 2004.
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Ukraine has not preserved its 1991 borders. The signing of the Geneva memorandum on April 17 reaffirmed the willingness of Russia, the United States and EU countries to reach a compromise. While the sides continue to trade tough talk and symbolic sanctions, the Kremlin and the White House are also holding a parallel dialogue on the coordinated geopolitical revision of Eastern Europe.