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China to Build Major Logistics Base for Trade, Economic Cooperation With Russia: Reports

© RIA Novosti. Sergey Guneev
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A contract has been signed on the construction of a major logistics base in the northeastern Chinese city of Harbin for trade and economic cooperation with Russia, Chinanews reported Monday.

MOSCOW, October 20 (RIA Novosti) – A contract has been signed on the construction of a major logistics base in the northeastern Chinese city of Harbin for trade and economic cooperation with Russia, Chinanews reported Monday.

The base will be the main logistics center for outsourcing, design, trade, e-commerce and other modern services and will improve trade cooperation with Russia, both in exports and imports, Chinanews reported, citing an official statement.

Beijing is Russia's largest trade partner. Bilateral trade between the two countries reached $89.2 billion in 2013, with the trade turnover expected to reach $100 billion by 2015 and $200 billion by 2020.

Russia has been strengthening its trade cooperation with China in the wake of western sanctions targeting Russia's key economic sectors.

Last week, Moscow and Beijing signed a number of intergovernmental agreements in several spheres, including gas deliveries, satellite systems, bank financing and taxation.

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taxation, finances, satellite, gas export, agreement, imports, export, economy, sanctions, logistics, Harbin
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