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Ministry of economic development of the Russian Federation

Russia-China trade turnover may grow to $200 bln in near future — economy minister

11.06.2019

Trade turnover between Russia and China may grow to $200 bln in the near future, Economic Development Minister Maxim Oreshkin said in an interview with Xinhua news agency on Tuesday.

"It is expected that in the next few years, bilateral trade between Russia and China will reach a new level, and trade will reach $200 bln," Oreshkin said.

"The Russian-Chinese memorandum of understanding and stimulating the development of bilateral trade, signed recently in Moscow [during the visit of Chinese leader Xi Jinping], will help increase bilateral trade to the target value," he stressed.

Oreshkin also noted that two countries need "not only to implement large projects, but also to make diversified deliveries of end-use goods and investment goods."

"These volumes will grow very actively," he said.

According to the Russian minister, "this year the parties intend to continue to increase the volume of trade, which will serve as a starting point for achieving new horizons."

The minister states complete mutual understanding between Russia and China for the moment.

"In this spirit we will continue," he concluded.

According to the Central Customs Administration of China, the trade turnover between Russia and China in 2018 increased by 27.1%, exceeding $107 bln.

In 12 months, the volume of exports from China to Russia increased by 12% and exceeded $47.97 bln, the import of Russian goods and services to China grew by 42.7% to $59.08 bln.

Sourse: TASS 



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