Moscow, Jun 22 (IANS): China and Russia have signed an agreement on electrical cooperation on the sidelines of the ongoing St. Petersburg International Forum (SPIEF), Xinhua reported.

The deal was signed among Russia's power company IDGC Holding, Russia's manufacturer Eurocontract High-Voltage Switchgear and China's XD electric company. It is aimed to support the safe operation and maintenance of the 110 KV electrical grid in Russia.

"It (the agreement) opens new perspectives of international cooperation between China and Russia and advances modernisation of the power grid," said Yang Baolin, vice-president of the XD electric company.

He said that electricity was a key component of bilateral cooperation.

With more than ten years' rapid development of its electrical grid, China has accumulated rich experiences which may prove useful to the construction and development of Russia's electric power industry, said Yang.

The 16th annual forum kicked off Thursday. The three-day forum, with the theme of "Affective Leadership," has drawn over 5,000 participants from all over the world to the Russia's second largest city of St. Petersburg.