Chinese Foreign Trade and Economic Cooperation Minister Shi Guangsheng and Russian Trade Minister German Gref signed a memorandum on development and cooperation Wednesday in Moscow.

The ministers also inked a deal on development of a joint website on Chinese-Russian economic and trade cooperation.

Shi, heading a governmental delegation, arrived here Tuesday for a two-day session on Chinese-Russian economic and trade cooperation in the framework of the regular meeting mechanism of the premiers of the two countries.

Participants praised the record high trade volume in 2001 of more than 10 billion US dollars, one fold increase from that of 1992, and discussed further cooperation in the field.

During his stay in Moscow, Shi also met with Russian Deputy Prime Minister Viktor Khristenko.

(Xinhua News Agency May 23, 2002)