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Mutual trade turnover between Russia and China may approach $170 billion

H6c3b49faaaef491e9b8ee7003385ca5cnAlso, at the same time, major projects are being implemented, said Maxim Reshetnikov, Minister of Economic Development of the Russian Federation.

The mutual trade turnover between Russia and China has reached almost $93 billion over the past seven months. By the end of the year, the indicator is expected to grow to a historical maximum of $170 billion. This was announced to journalists by the Minister of Economic Development of the Russian Federation Maxim Reshetnikov on the sidelines of the Eastern Economic Forum in Vladivostok.
"In February, we signed a roadmap with our Chinese partners to increase trade in goods and services to 200 billion US dollars by 2024. Over the past seven months, we have seen an unprecedented increase in trade turnover - by 25%. By the end of this year, we plan that the mutual trade turnover with China will reach a historic maximum and approach $170 billion," the minister said.
He added that these figures are a confirmation of joint systematic work in many areas: This includes solving export-import issues and, despite the current covid restrictions (which, among other things, affect the transportation of goods), ensuring uninterrupted supply of goods and unhindered movement of goods through border checkpoints, writes TASS.
Major projects are also being implemented at the same time, the minister noted. Oil and gas supplies are increasing, he pointed out. "We understand that today it is important both for the People's Republic of China, because it has a reliable energy supplier at an affordable predictable price that does not depend on the spot, and for the Russian Federation - we have guaranteed sales, which allows us to recoup the significant investments we have invested in infrastructure, and makes it possible to move forward in this direction," Reshetnikov added.