Tang Jiaxuan told the 18th China Harbin International Fair for Trade and Economic Cooperation: "Trade between the two countries amounted to $12.5 billion in the first four months of 2007, and the figure should exceed $40 billion for the whole of 2007."
Speaking at the opening of Russia's Trading Day as part of the fair, Jiaxuan said Chinese direct investment in the Russian economy totaled $940 million, and that Russia had so far invested $610 million in China.
"China has become Russia's fourth largest economic partner, and Russia is China's eighth largest partner," the Chinese official said.
Bilateral trade between the two countries stood at $33.9 billion in 2006.
This year, around 10,000 businessmen from about 80 countries and regions and nearly 100,000 domestic participants from over 25 Chinese provinces, cities and autonomous regions will attend the five-day event from June 15 to 19.
