OREANDA-NEWS. JSC SITRONICS (LSE: SITR), major East Europe company which operates high-technology assets of AFK SISTEMA, and ZTE CORPORATION (China), one of the leading manufacturers of telecommunication equipment and supplier of network solutions, signed Memorandum of Understanding concerning development of cooperation in Russian, Chinese and international telecommunication markets.
 
JSC SITRONICS and ZTE CORPORATION will focus their efforts on establishing of R&D center in Russia – joint strategic researching centre in the field of development of communication facilities and consumer electronics.

The parties intend also to set up a joint venture in Shenzhen for production of electronics and telecommunication equipment.

One of the articles of Agreement provides organization of joint development and production of receiving devices for global positioning system "GLONASS" and commercialization of this system on Russian territory.