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Head of the Ministry of Economic Development admits record high figures in trade between Russia and China by the end of the year

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Head of the Ministry of Economic Development admits record high figures in trade between Russia and China by the end of the year

Mutual trade between Russia and China may reach a historical maximum by the end of this year, said Russian Minister of Economic Development Maxim Reshetnikov.

He told that Chinese companies continued to develop their projects in Russia and launch new ones, despite the pandemic. For last one and a half year, as the Minister has reminded, the automobile factory in Tula area has been erected, also there was created joint manufacture of engines KAMAZ and Weichai in the Yaroslavl area, and in Moscow suburbs a logistics complex was started up. In addition, the parties were able to solve the issue with the restrictions that hindered the development of trade and investment, for example, imports of Russian beef into China have been allowed.

Reshetnikov said that during the crisis there was a slight decline in trade turnover, but since January 2021 it has increased by almost a third. "By the end of the year, there is every chance of reaching a historical maximum," he added.

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Author: Ksenia Gustova

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