(MENAFN) In a significant development underscoring the deepening economic ties between Russia and China, Beijing's Ambassador to Russia, Zhang Hanhui, revealed that Russia has now emerged as the largest importer of Chinese cars. This milestone comes amid a backdrop of escalating trade between the two nations, fueled by the strain of Western sanctions on Moscow and the ongoing trade tensions between the United States and China.
Highlighting the pivotal role of the automotive industry in this flourishing partnership, Ambassador Zhang emphasized that China has solidified its position as the primary supplier of cars to Russia, with a notable surge in both the quantity and monetary value of exports. These revelations were made on the eve of the 28th regular meeting between the leaders of Russia and China, held in Beijing, showcasing the strategic importance both nations place on their economic collaboration.
According to Zhang, the cooperation between the two countries has not only expanded in terms of volume but has also demonstrated qualitative advancements, marking considerable success. Notably, Beijing has maintained its status as Moscow's largest trading partner for an impressive 13 consecutive years, underlining the consistent growth and diversification of their bilateral cooperation.
The statistics speak volumes, revealing that Chinese automotive brands now account for over 90% of all car imports in Russia, a remarkable shift following the departure of European, American, South Korean, and Japanese automakers. The transformation is further exemplified by Chinese manufacturers venturing into the Russian market, with recent initiatives involving the commencement of car production at the Avtotor plant in the Russian exclave of Kaliningrad. This facility, previously dedicated to assembling German BMWs and South Korean Hyundai and Kia cars, now symbolizes China's expanding footprint in the Russian automotive landscape.
As the world grapples with evolving trade dynamics and geopolitical challenges, the Russia-China partnership in the automotive sector stands out as a beacon of resilience and cooperation. The growing interest of Chinese companies in collaborating with Russia underscores the mutual benefits and opportunities both nations see in fostering a robust economic alliance.
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