Gennady Timchenko Sees Progress in Russian-Chinese Cooperation
28 March 2015 - 9:14PM
Business Wire
Gennady Timchenko, the Russian Chairman of the Russian-Chinese
Business Council, has attended the Boao Forum for Asia (BFA) Annual
Conference 2015 on Hainan Island, China. The theme of this year’s
conference was “Asia's New Future: Towards a Community of Common
Destiny”. The Forum included more than 70 official panels on a
range of different topics including politics, economic development
and integration and regional integration.
BFA is one of the most recognized and prestigious forums for the
government officials and business leaders in Asia and other
continents to work together on the most urgent issues all over the
world. This year the guests of the Forum included the heads of
government of Armenia, Austria, Indonesia, Nepal, Sri Lanka, Uganda
and Zambia as well as the Governor-General of Australia and the
prime ministers of Kazakhstan, Malaysia, The Netherlands, Qatar and
Sweden. The Russian delegation consisted of about 100 participants
who represented large and mid-sized businesses, sectoral ministries
and departments as well as those who were interested in cooperation
with Chinese partners.
Mr Timchenko was taking part in the Forum for the second time.
Commenting on the results of the forum, he noted that “despite the
current geopolitical tensions we can see that international
partners are expressing their interest towards Russia. A specially
arranged session on the dialogue between CEOs of Russian and
Chinese companies confirms that the Russian-Chinese relationship
continues to develop dynamically.”
Mr Timchenko continued that “the key areas of the cooperation
between China and Russia include energy, financial sector and
infrastructural projects.”
“The long-term Chinese-Russian energy cooperation has proved its
efficiency. Gas contracts, new power generating construction
projects, integrated exploration of the fields - these projects are
forming our common interest in the nearest future.”
"Infrastructure construction allows us to lay the foundations
for further social and economic development and to use the
advantages of the geographical location of Russia and China.”
“We believe that BFA is an excellent opportunity for Russian and
Chinese businessmen to discuss possible areas of cooperation in the
energy, financial and infrastructure sectors. We have a significant
amount of work ahead. I believe that this rapprochement gives a lot
to our countries - we complement each other in different areas such
as technology, and the processing and transportation of resources.
Our relationship is not nominal - it is a strategic one and is
based on a fundamental affinity between our states and on our
shared understanding of the importance of strengthening our
economic ties. The plan to increase the trade volumes between the
two nations to $200 bn by 2020 is ambitious, but at the same time,
realistic.”
Note for the editors:
Gennady Timchenko is Founder and Principal Shareholder of Volga
Group investment group. He has more than 30 years of experience in
the Russian and global energy sector. Born in Armenia in 1952, Mr
Timchenko earned a Master of Electromechanical Engineering degree
from the Leningrad Mechanical Institute in 1976. Mr Timchenko began
his career as an engineer, and subsequently worked in the
petrochemicals and oil and gas industries. During the 1980s he
served in the state sector, in 1990s he held top positions in the
trading companies.
Following two decades of successful executive leadership, Mr.
Timchenko sought to capitalise on his experience and know-how by
pursuing entrepreneurial endeavours. During the last 10 years, Mr.
Timchenko made a number of strategic investments to complement his
industrial portfolio. These investments became the core of Volga
Group, which was established in 2007 to manage his holdings.
Volga GroupAnton Kurevin, +79199604119PR
Directorakurevin@volga-advisors.com