On May 8, Minister of Commerce Wang Wentao met with Reshetnikov, Russian Minister of Economic Development in Moscow. The two sides had in-depth exchanges on implementing the upgraded version of the Agreement on the Promotion and Reciprocal Protection of Investments between China and Russia, strengthening economic and trade investment cooperation, and responding to the so-called “reciprocal tariffs” imposed by the U.S.

Wang Wentao noted that under the strategic guidance of the leaders of both countries, China-Russia comprehensive strategic partnership of coordination for a new era continues to deepen, and economic and trade cooperation maintains a good momentum of development. Both sides should fully leverage the role of the upgraded version of the Agreement Between the Government of the Russian Federation and the Government of the People’s Republic of China on the Promotion and Reciprocal Protection of Investments to provide more transparent and fair investment and business environment for enterprises of both countries, continuously promoting the high-quality development of China-Russia economic and trade cooperation.

Wang Wentao stressed that China firmly opposes the U.S.’s arbitrary imposition of so-called “reciprocal tariffs” and has taken countermeasures decisively. After carefully assessing the U.S. messages, China has decided to agree to hold high-level economic and trade talks with the U.S. China’s position is consistent. China’s determination to safeguard its development interests will not change, and its position and goals of upholding international fairness and justice and protecting the international economic and trade order will not change.

Reshetnikov stated that China-Russia mutually beneficial cooperation does not target any third party and aligns with the fundamental interests of both countries. In recent years, bilateral trade has been resilient, and cooperation projects in various fields have progressed smoothly. In the future, both sides should seize cooperation opportunities, further deepen industrial cooperation, expand two-way investments, and cultivate new growth points.