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China, Russia agree to cooperate on tourism safety insurance

10-30-2010 11:43 BJT

MOSCOW, Oct. 29 (Xinhua) -- China Life Insurance Company (China Life), Russia's Rosstrakh Insurance Company and travel association "World Without Borders" inked a deal here Friday on setting up a cooperative mechanism of travel safety insurance between China and Russia.

The agreement allows insurance companies from the two countries to provide service aboard for customers who buy insurance domestically.

The agreement will thus provide a platform for both governments to lower costs on coordinating travel safety and relevant insurance issues.

Sun Tao, general manager of China Life's international department, told Xinhua it was the first time for his company to cooperate with their Russian colleagues on behalf of China.

He said the signing of the agreement was a key link in the entire cooperative project of travel safety insurance between the two countries.

In the future all Russian tourists to China can buy insurance from their domestic companies, said Sun.

An emergency center set up by China Life can provide 24-hour aid and medical services they need under unexpected circumstance, he said, adding that China tourists to Russia would enjoy equivalent services.

Sun meanwhile noted that currently China and Russia have signed an agreement on mutual visa-free regime for tourist groups with at least five people. Those qualified companies in China and Russia now amounted to nearly 1,000 and 100 respectively.

The integration of Chinese and Russian insurance mechanism will firmly guarantee the future development of the two countries' tourism industry, he said.

According to Sun, Russia has now become one of the largest incoming tourist sources for China.

The "World Without Borders" travel association established in 2002 now unites about 100 Russian biggest tourist companies.

Editor:Yang Jie |Source: Xinhua

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