Tue, 31 Jan 2023

Russia-China trade soars official

04 Dec 2022, 00:13 GMT+10

Trade between the countries has increased by 30% compared to last year, according to Moscow

Trade between Russia and China has continued to grow this year, hitting $129 billion in the first nine months, Russian Deputy Prime Minister Dmitry Chernyshenko said on Friday.

Speaking via video link at the 26th regular session between the Chinese and Russian heads of government, the Deputy PM said trade turnover surged nearly 30% during the first three quarters.

"China is our key trading partner. Despite external challenges, our relations are developing in all directions. The main task for the coming period is to consolidate the positive dynamics of trade growth," Chernyshenko said.

The official said the partnership is seeing strong momentum in various fields, and Russia wants to work with China to further develop relations.

In September, Russian President Vladimir Putin hailed the strong economic ties with Beijing, noting that in 2021, Russia-China trade reached a record $146 billion.

Earlier this year, Beijing's ambassador to Moscow expressed hope that bilateral trade could hit $200 billion this year. He stressed that economic cooperation is showing excellent results, despite the challenges arising from the Covid-19 pandemic, the global economic downturn, and difficult international and regional situations.

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