Russia, China Expand Trade Ties as Turnover Rises Sharply
(MENAFN) Russian Prime Minister Mikhail Mishustin said Wednesday that trade between Russia and China has expanded more than thirtyfold over the past 25 years, despite mounting external pressure on both countries.
Speaking during a meeting with Chinese Premier Li Qiang in St. Petersburg ahead of the 31st regular gathering of the two countries’ heads of government, Mishustin highlighted the continued growth of bilateral economic relations. He also noted that nearly all trade transactions are now conducted using their national currencies, the Russian ruble and the Chinese yuan.
"Despite increased external pressure, Russia-China trade and economic cooperation has demonstrated strong momentum: over the past 25 years, our bilateral trade turnover has increased more than 30-fold," he said.
Mishustin added that a bilateral commission overseeing economic cooperation currently has more than 90 projects in its portfolio, covering a broad range of industries, including metallurgy and agriculture.
"Today, the share of national currencies in bilateral trade is already close to 100%," the Russian prime minister said, pointing to further growth in investment between the two countries.
He described China as one of Russia’s most important economic partners and reaffirmed Moscow’s commitment to maintaining reliable energy deliveries. Mishustin also identified peaceful nuclear energy cooperation as an area with significant potential for future development.
Regarding existing energy ties, he noted that Russia continues to rank as China’s leading oil supplier. He also highlighted the steady operation of the Power of Siberia pipeline, which transports natural gas from Siberia to China, as an important component of their energy partnership.
Speaking during a meeting with Chinese Premier Li Qiang in St. Petersburg ahead of the 31st regular gathering of the two countries’ heads of government, Mishustin highlighted the continued growth of bilateral economic relations. He also noted that nearly all trade transactions are now conducted using their national currencies, the Russian ruble and the Chinese yuan.
"Despite increased external pressure, Russia-China trade and economic cooperation has demonstrated strong momentum: over the past 25 years, our bilateral trade turnover has increased more than 30-fold," he said.
Mishustin added that a bilateral commission overseeing economic cooperation currently has more than 90 projects in its portfolio, covering a broad range of industries, including metallurgy and agriculture.
"Today, the share of national currencies in bilateral trade is already close to 100%," the Russian prime minister said, pointing to further growth in investment between the two countries.
He described China as one of Russia’s most important economic partners and reaffirmed Moscow’s commitment to maintaining reliable energy deliveries. Mishustin also identified peaceful nuclear energy cooperation as an area with significant potential for future development.
Regarding existing energy ties, he noted that Russia continues to rank as China’s leading oil supplier. He also highlighted the steady operation of the Power of Siberia pipeline, which transports natural gas from Siberia to China, as an important component of their energy partnership.
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