Sino-Russian trade volume is expected to increase by 30% this year

May 29, 2019  |  by CT
2019 marks the 70th anniversary of the establishment of diplomatic relations between Russia and China. On May 15, RIA Novosti held the Moscow-Beijing Video Link Meeting, “Commemorate the 70th anniversary of the establishment of Russian-Chinese diplomatic relations: positive experiences in the development of economic relations between the two countries.” During the meeting, guests from the two countries reviewed the history, summarized the positive cooperation experience of the two countries in recent years, and looked forward to the future development prospects of cooperation.

 
 
Sergei Lujanin, director of the Far East Branch of the Russian Academy of Sciences, said that the current difficult situation of Sino-U.S. economic and trade relations has given Sino-Russian relations new opportunities for development, and Sino-Russian trade can partly offset the resulting trade imbalance. China and Russia have the obligation to increase mutual investment, further enhance the trade volume between the two countries, and strengthen cooperation with China’s “Belt and Road” initiative and Russia’s Eurasian Economic Union, and work hand in hand to develop the markets of Eurasian countries. He believed that Sino-Russian trade still has broad growth space in the four areas of liquefied natural gas, military industry, electronic commerce and agricultural products. The cooperation in these four areas will bring new growth points to Sino-Russian trade volume. He also predicted that trade volume between China and Russia would increase by 28% to 30% this year.

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