China-Russia trade expected to grow to $200B this year

Updated: Nov 5, 2023 By Liu Zhihua chinadaily.com.cn Print
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Trade between China and Russia is expected to total more than $200 billion this year and has "big prospects" to further grow, according to Russian First Deputy Minister of Industry and Trade Vasily Osmakov on Sunday in Shanghai.

Taking part in the opening ceremony of the China International Import Expo held on Sunday morning, he said the ongoing event is very important for the two countries to expand trade and investment cooperation.

The Russian delegation to the CIIE this time has expanded to include about 70 companies from different industries, and the figure will continue to grow, he said.

"We see the event like a window to the Chinese market. First of all, we could boost and help our companies to promote their products on the (Chinese) market (through the CIIE)," he said.

"It's important just to be here, and just to have all these meetings, all these communications and be part of this big event," he added.

He also said China and Russia's relationship has achieved big progress in many fields. He expects Chinese imports from Russia, which currently mainly include agricultural products and software, will further expand to include more industrial products like pharmaceutical products, chemicals, and machinery equipment.


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