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Russian gov't approves draft bill to boost trade with China

Xinhua, June 16, 2015 Adjust font size:

The Russian government on Tuesday approved a draft bill to boost the country's trade with China within the mechanism of the Shanghai Cooperation Organization (SCO) as an upcoming summit of the bloc is to be held in Russia.

The bill, submitted for government consideration by Russian Foreign Ministry and Transportation Ministry, would simplify and harmonize the SCO countries' national procedures regarding cross-border road transit, according to a government statement.

In particular, it will lifts the existing ban on the entry of Russian vehicles to China through border check points from Kazakhstan, and as a result, boost the trade turnover between Russian and China, said the statement.

The bill will be reviewed at a government session later.

Founded in 2001, the SCO has China, Kazakhstan, Kyrgyzstan, Russia, Tajikistan and Uzbekistan as its full members, with Afghanistan, India, Iran, Mongolia and Pakistan as observers and Belarus, Turkey and Sri Lanka as dialogue partners.

Russia holds the rotating presidency of the SCO in 2015, with a summit to be held in Ufa, the capital of the Republic of Bashkortostan, Russia, in early July. Endi