On February 3, 2005, Russian Prime Minister Mikhail Fradkov met with Chinese State Councilor Tang Jiaxuan at the Russian Government Building.

Tang said that China pays high attention to the China-Russia strategic partnership, and stands ready to strengthen bilateral reciprocal cooperation with Russia in all spheres. It is hoped that both countries make joint efforts in a bid to get breakthrough in cooperation in key areas such as economy and trade, energy, science and technology and investment. Both countries should take full advantage of governmental, non-governmental, local and other channels to further open their markets, expand trade and optimize the trade structure so as to reach the goal of US$60 billion to 80 billion of bilateral trade volume by 2010.

Fradkov made positive comments on the good momentum of development of Russia-China relations in recent years. He noted that Russia pays high attention to deepening pragmatic bilateral cooperation in all fields and agrees to identify economy and trade and energy as priority bilateral cooperative areas. Russia will earnestly follow up the consensus and agreements reached in the 9th regular meeting between Russian Prime Minister and his Chinese counterpart in 2004, create favorable conditions, promote bilateral exchanges in economy and trade, accelerate the negotiation process with China on the agreement of investment protection and make efforts to realizing the goals for trade identified by both sides.

Tang Jiaxuan also held talks with Secretary of Security Council Igor Ivanov of the Russian Federation on major current international issues and regional security situation and established and launched the China-Russia national security consultation mechanism.