China sets ambitious trade target with Russia — RT EN

8 Feb 2022 1:18 pm

Beijing wants to further expand trade with Russia and has set a new goal. The first goal was to reach a trading volume of 200 billion US dollars per year by 2024. Now it should be 50 billion US dollars more.

China wants to increase bilateral trade with Russia to $250 billion a year. Chinese President Xi Jinping announced this goal at a meeting with Russian President Vladimir Putin, according to Kremlin spokesman Dmitry Peskov. Peskov said:

“It’s not that much for China, but it’s a very ambitious goal for Russia.”

He added that the task is entirely doable, noting that trade turnover between the two countries will reach an all-time high of $140 billion in 2021.

The leaders of both countries had previously set a goal of doubling trade volume from $100 billion reached in 2018 to $200 billion a year by 2024.

China has been the main buyer of raw materials and production goods from Russia since 2016. According to the Russian Export Center (REC), shipments of these goods have increased for seven years in a row and this trend will continue. Copper, aluminum, fertilizers, timber, oilseeds, paper and cardboard were among the categories of goods most imported by China from Russia, the REC said.

More on the subject – Where China must join forces with Russia to defy the US



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