Chinese Vice Premier Wu Yi and her Russian counterpart Alexander Zhukov have pledged to increase the trade of machinery and electronic products in a bid to further promote bilateral economic ties.

The two senior cabinet members made the remarks at the debut ceremony of the China-Russia chamber of commerce of machinery and electronic products in Moscow on Tuesday.

Sino-Russian trade and economic cooperation has become more active in recent years and the trade volume is expected to reach US$50 billion, Wu said at the ceremony.

Chinese and Russian exports of machinery and electronic products are both growing, which promote cooperation in investment and high-technology sectors and fuel the development of bilateral ties, she said.

The chamber of commerce of machinery and electronic products will contribute to the growth of bilateral trade and investment, as well as the optimizing of trade components and the common development of the two countries' industries, she noted.

Zhukov spoke highly of the Russian-Chinese bilateral ties and trade and economic cooperation, saying all-round cooperation has been carried out in such fields as science and technology, and education and culture.

Russia will take comprehensive measures to push forward substantial bilateral cooperation in various fields and strive to reach the US$80billion trade target set for 2010, he said.

The China-Russia chamber of commerce of machinery and electronic products has enrolled 280 member companies, covering key areas such as energy and machinery, communication equipment, car manufacturing and high technology.