Source Pravda.Ru

China-Russia trade turnover to become $12-bln worth in 2002?

This year the trade turnover between China and Russia may become 12 billion dollars, or two billion dollars more than a year before.

China's Main Customs Department said on Thursday that, as of early September 2002, trade turnover between the two countries had increased by 14.5 percent to 7.64 billion dollars, compared with the same period in 2001.

Chinese experts say the rise is due to the increased Russian export to China which was 5.64 billion dollars, or 8.8 percent, up, over the said period. Although 33.8 percent higher, China's export to Russia is below two billion dollars.

Chinese experts believe that in two-three years to come trade turnover between China and Russia may grow two-fold.

The Zhongguo Ribao newspaper reports that, in expert opinion, economic upswing in Russia and China prompts the development of Chinese-Russian economic cooperation.

Representatives of the North Korean administration issued a statement saying that the United States and its allies have lost the "political and military confrontation" to the DPRK

North Korea declares victory over USA
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