MOSCOW, Oct. 4 (Xinhua) -- Russia's Udmurt Republic has the potential for greater cooperation with China, the region's Minister of Economy Anna Slugina said, noting the remarkable growth in bilateral trade and ongoing major projects.

"China is a very important strategic direction for both Russia and the Udmurt Republic," Slugina told Xinhua. She said the potential for further growth in exports and imports remains significant, noting that Chinese consumers "highly value our ice cream and many other products." In return, the republic purchases production equipment and technologies from China.

Located in the central Volga River Basin at the western foot of the Ural Mountains and roughly 1,200 km east of Moscow, the republic has well-developed industries such as energy and machinery manufacturing. It is best known as the birthplace of composer Pyotr Tchaikovsky.

The minister said the republic offers preferential terms for Sino-Russian joint projects and actively encourages investment, emphasizing long-term cooperation in oil extraction with Chinese companies.

"I am very hopeful that our Chinese partners will implement projects in our territory, because we provide all the necessary infrastructure for their implementation," Slugina said. "This minimizes our partners' costs and time, and accordingly increases project profitability. I believe now is the right time to launch joint projects." ■