Russia and China Conclude Strategic Cooperation Agreement

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Rostec State Corporation and China Aerospace Science and Technology Corporation (CASC) signed an agreement for strategic cooperation aimed at facilitating cooperation in R&D and production of electronic components, information technology, communications, automation systems and new materials. The agreement was signed by Rostec CEO Sergey Chemezov and Chairman of the Board of CASC Lei Fanpei.

According to the agreement, both companies will prepare and implement joint projects in Russia, China and other countries. This cooperation will focus on the civil sector.

“The cooperation will allow Rostec companies to increase its market share in existing and new markets. Rostec has always attached importance to its cooperation with Chinese enterprises. The agreement with CASC opens new prospects for economic cooperation and allows for new forms of its implementation,” Mr. Chemezov commented on the issue.

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Posted on October 15, 2014, in General News. Bookmark the permalink. Leave a comment.

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