Putin announces Russian-Chinese trade turnover hits record high of USD240B

(MENAFN) Russian Leader Vladimir Putin announced on Thursday that the trade turnover between Russia and China has achieved a significant milestone, reaching a substantial USD240 billion. Speaking at a press conference held in Beijing after a meeting with Chinese Leader Xi Jinping, Putin emphasized the strength of the economic ties between the two countries, despite minor discrepancies in the reported figures by Russia and China. Putin highlighted concrete plans for further cooperation in the energy sector, indicating a strategic alignment between the two nations.

In response to economic sanctions imposed by Western nations, Putin revealed Russia's intention to deepen collaboration with China, particularly in the automotive and household appliance industries. Both countries are actively taking measures to safeguard their bilateral trade and investments from external pressures, with a specific focus on fortifying the finance sector against adverse effects. Putin stressed the importance of closer collaboration between banks to reinforce economic resilience.

Putin underscored the significance of his visit to China, emphasizing its symbolic and practical implications. He described the extensive agenda for the visit as indicative of the depth of the relationship between Russia and China, highlighting the multifaceted nature of their cooperation.

During the visit, Putin and Xi signed a joint statement aimed at deepening their strategic partnership for "a new era," coinciding with the 75th anniversary of diplomatic ties between the two nations. This declaration underscores the commitment of Russia and China to further strengthen their collaboration across various domains, reaffirming their shared vision for the future.

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