Rostec and China Aerospace Science and Technology Corporation (CASC) signed a strategic partnership agreement aimed at promotion of trade, investment, and collaboration in high-tech areas. In particular, this refers to joint development and production of electronic components, cooperation in the areas of IT, communication systems, automation, new materials, etc., Rostec’s press-service reports.
On October 13th 2014 Rostec CEO Sergey Chemezov and CASC Chairman of the Board Lei Fanpei signed the agreement. The signing ceremony took place during a meeting of the Russian and Chinese Chairmen of the Government – Dmitry Medvedev and Li Keqiang. The agreement allows the parties to start preparation for implementation of joint projects in Russia, China, and other countries. The cooperation between Rostec and CASC will be focused on civilian projects.
“Joining the efforts, competences, scientific potential and production capabilities of Russian and Chinese companies would give us an edge allowing us to implement joint projects that can be successful at the global market,” Rostec CEO Sergey Chemezov said. “Production of competitive high-tech industrial products in cooperation with Chinese partners allows Rostec companies to increase their share at the markets where they already have a presence and enter new markets. The agreement with CASC opens up new economic opportunities and allows us to cooperate in new formats”.
“Rostec has proven to be a reliable long-standing partner for Chinese companies,” CASC Chairman of the Board of Directors Lei Fanpei said. “We are interested in developing our cooperation with the Russian corporation in a number of areas. This is beneficial for both parties, because the competencies and technologies of Russian and Chinese companies can complement each other and give us an edge. The potential for cooperation between Russia and China is enormous, and unlocking this potential can give an additional impulse to some areas of development, including production of advanced electronic components.”
Among possible areas of cooperation include joint development and production of electronic components, IT, communication and control systems (together with Ruselectronics and the Russian Telecom Equipment Company, RTEC), and new materials (together with RT-Chemcomposite Holding), Rostec added.
The CASC specializes in development and production of spacecraft, space launch vehicles (including manned ones), strategic and tactical missiles of different types, ground tracking and control equipment, as well as telecommunication equipment for military and civilian use. Moreover, the corporation is an authorized agency for international cooperation in the area of space. The corporation is also the largest shareholder (on behalf of the Chinese government) of ZTE Corporation, leader of the Chinese telecommunication market.
The China Great Wall Industry Corporation (CGWIC) is CASC’s foreign trade company; it is the only company to provide services in the area of commercial space launches and placing satellites into orbit, as well as associated technology services.