"The Ministry of Economic Development of Russia and the Ministry of Commerce of the People's Republic of China have concluded a memorandum on the sidelines of the Russian-Chinese Business Forum in Beijing to enhance cooperation in services trade. The document was signed by Russian Minister of Economic Development Maksim Reshetnikov and Chinese Minister of Commerce Wang Wentao," the ministry said in a statement.
The parties agreed to develop services trade on the regional level, to urge commercial companies of both countries to participate in relevant exhibitions and trade fairs, as well as to prompt Russian and Chinese businesses to arrange joint activities related to trade of educational, medical, financial, transportation, construction, technical, tourist, sports, information and other services, the ministry said.
"This memorandum, on the one hand, is a follow-up on the previous commitments to enhance bilateral service trade between our countries, and on the other hand, it is a milestone of the plan on the development of key areas of the Russian-Chinese economic cooperation until 2030, signed in March by [Russian] President Vladimir Putin and Chinese President Xi Jinping," Reshetnikov was quoted as saying in the statement.
The ministry added that the memorandum's fulfillment will be monitored by a permanent task group created by the trade and economic cooperation subcommittee of the Russian-Chinese committee responsible for arranging regular meetings of both countries' heads of government.