Taiwan and Russia signed a memorandum last Thursday for the bolstering of the development of small-and medium-sized enterprises (SMEs) as well as cooperation in this area between the two countries.
The Moscow-Taipei Economic and Cultural Coordination Commission (MTECCC) and the Taipei-Moscow Economic and Cultural Coordination Commission (TMECCC) - two liaison bodies established in Moscow and Taipei respectively to handle private exchanges between the two countries in the absence of formal diplomatic relations - signed a memorandum in Moscow on Thursday on behalf their respective governments on prospective SME cooperation.
The memorandum on SME cooperation marks the first major breakthrough in business cooperation between Taiwan and Russia since the two countries began developing unofficial bilateral ties 10 years ago, MTECCC sources said.
