Russia, China sign nine deals, including on rabbits

Moscow, March 22 : Russian Deputy Prime Minister Dmitry Rogozin and his Chinese counterpart Wang Yang signed nine economic agreements in Moscow Friday, including on cooperation in banking, energy and rabbit husbandry.

The Kostroma region-based company Russky Krolik (Russian Rabbit) now has a new partner in Beijing, and the agriculture ministries of both countries will be working together to develop the fine art of cuniculture, or breeding rabbits, according to the deal package.

Russian petrochemicals company Sintez Group signed an agreement on cooperation with State Grid Corporation of China, while En+ Group, controlled by Oleg Deripaska, agreed to work with China Development Bank and the state-run Shenhua Overseas Development and Investment Co. Ltd in the coal industry.

China Development Bank also signed an agreement with MBC Corporation managing company on principles of financial cooperation. Russia and China will also launch joint production of heavy drilling rigs, according to a deal between Russia's Uralvagonzavod corporation and VTB Leasing company and China's Honghua Group.

VTB Leasing's owner, the state-run VTB bank, will be working with China Construction Bank, and Rosgosstrakh insurer with China's Chengdong Investment Corporation.

Finally, Export Insurance Agency of Russia and China Export and Credit Insurance Corporation signed a deal on facultative reinsurance. The deals were signed ahead of the new Chinese President Xi Jinping's three-day visit to Russia, which begins Friday and will be his first foreign trip since assuming office March 14.

--IANS (Posted on 22-03-2013)

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