Vice Chairman of Russian-China Entrepreneur Council Mr. Kalashnik Alexei (L) and YRIC Global Executive President Mr. Liu Meng (R)

On August 24, 2016, Mr. Gennady Timchenko, President of Russian-China Entrepreneur Council and YRIC signed a strategic cooperation agreement in Beijing, Vice President of Russian-China Entrepreneur Council Mr. Kalashnik Alexei, the authorized representative in Beijing Mr. Slin Sergei and YRIC Global Executive President Mr. Liu Meng attended the signing ceremony.

The two sides signed the agreement: first is to take turns to host the forum activities in the two countries, to promote the discussion on business development theory and economic hot issues; second is to invite entrepreneurs to regularly visit each other to expand high-level relations by taking advantage of the world political and business influence, and to find opportunities of business cooperation between the two countries; third is to jointly set up the Sino-Russian development cooperation fund to promote China and Russian mutual investment; fourth is Russian-China Entrepreneur Council support YRIC to be established in Russia.

The meeting

Russian-China Entrepreneur Council was founded in 2004 when Russian President Putin's visit to China, and was sponsored by the China-Russia Business Council. The Agreement of Russian-China Entrepreneur Council Establishment was signed under the witness of Russian President Putin and China Former President Hu Jintao. The establishment of Russian-China Entrepreneur Council is aimed at promoting the Russian and Chinese economic cooperation projects, and providing a platform for exchanges and cooperation between the two countries in the business sector. At present, under the direct support of the Russian Council, more than 27 large-scale cooperation projects have been carried out covering metallurgy, transportation, agriculture, construction, electronics, nanotechnology and other industries with the total amount of more than 8.9 billion US dollars.

The signing site

President of Russian-China Entrepreneur Council Mr. Geennadi Timchenko is Russian President Putin's friend,and also one of the oil trade giant Gunvor's founders, Gunvor Group is one of the largest international energy distributors (with the revenue of $80 billion in 2011). The Russian state-owned oil company Rosneft and the Russian gas oil company Gazpromneft export their products through Gunvor Group, Mr. Gennady Timchenko occupies a huge share in the Russian oil industry, as a tycoon in oil and natural gas industry ranking sixty-second in 2013 Forbes global rich list.

President of Russian-China Entrepreneur Council Mr. Gennady Timchenko