"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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The main event of the third day of the 11th meeting of the Valdai International Discussion Club in Sochi was the closing session with President Vladimir Putin. The atmosphere was calm and open, despite the current political tensions and the Russia-West confrontation. The Russian president said that it corresponded to the spirit of the Valdai Club.