The first day of the second Russia-China economic forum has seen the signing of a range of agreements, primarily in the nuclear power industry. But both countries also see the meeting as an ideal opportunity to diversify the trade between them.

Moscow and Beijing have agreed to jointly build a gas centrifuge plant in China to enrich uranium, and also to construct a second phase of the Tianwan nuclear power plant.

Further processing of Russia’s timber exports in Russia is also on the agenda, with more than 70 joint projects and plans to expand this further with another $US 700 MLN of investment.

The volume of deals signed this week is expected to hit almost $US 3 BLN, and comes amidst expanding investment ties between the nations.

Chinese construction companies have committed more than $US 5 BLN to the Russian market this year, and other Chinese manufacturers, including carmakers, also have projects in the pipeline.

It’s hoped that the outcome of this forum is that the booming Russian and Chinese economies will become more closely linked.

It is also hoped that trade between the two will become more than just Russia exporting energy and raw materials.