BEIJING, November 6. /TASS/. Russian business circles are interested in strengthening long-term technological cooperation with China, head of the Russian-Chinese Guild of Commerce’s development department and deputy head of its Beijing office, Igor Zapolsky, told TASS.

"We know that Russia is making significant efforts to achieve technological sovereignty. This goal has been set for us by Russian President Vladimir Putin," he said, following the 15th China Overseas Investment Fair, which took place in Beijing this week. "Therefore, Russian enterprises and the businesses are keen for their Chinese partners to pursue deeper technical integration in our country's market," the official added.

The annual investment fair organized in the Chinese capital by the China Overseas Development Association "enjoys significant government support," Zapolsky said, adding that the Russian-Chinese Guild of Commerce "has been working for many years to help businesses from both countries establish communication."

"Even with a vast number of organizations in both countries tasked with facilitating the implementation of investment projects, and a large staff to support them, communication remains a bottleneck, a notably weak link in the chain of cross-border and international investment cooperation between Russia and China," he explained.

The department head also highlighted the importance of ensuring that economic engagement between the two countries "goes beyond mere trade in goods." In particular, technical cooperation should "become more substantial." "It is essential that our Chinese partners commit to a long-term presence here, share technologies with us, and work with us to develop them further - this is crucial. Consequently, by maintaining our presence in China, we are effectively addressing these objectives," he said.

"As for the prospects for expanding investment cooperation between the Russian Federation and the People’s Republic of China, Chinese partners view the Russian market as an important strategic area," Zapolsky concluded.