Trade Between Russia and China Continues to Grow

Trade Between Russia and China Continues to Grow

In the first three months of the current year, the volume of trade between the Russian Federation and the People’s Republic of China reached USD 24.17 billion, an increase of 4.2 per cent compared to the same period last year. This was published by the Xinhua News Agency citing a statement by Luo Weidong, Head of the Eurasian Affairs Department of China’s Ministry of Commerce. According to him, bilateral trade will continue to grow in the coming future.

As noted, the volume of supplies of agricultural products exceeded five billion US dollars for the first time. In addition, contacts between various regions of the two countries are becoming a solid basis for trade and economic cooperation. Thus, the total volume of trade between the Russian Federation and Tianjin exceeded two billion US dollars last year, an increase of more than 34 per cent.

The volume of trade between the Far Eastern Federal District and China amounted to over nine billion US dollars, an increase of 27.6 per cent. For three years in a row, China has become the largest trading partner for the regions in the Far Eastern Federal District. In addition to border areas, cooperation is also expanding with some of Russia’s European regions. It has previously been reported that shipments of perishable goods between the two countries will speed up.

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