This year, Russian-Chinese trade turnover will exceed $100 billion - according to the PRC Ministry of Commerce

This year, trade turnover between Russia and China will exceed $100 billion. Such a forecast was disclosed by the Chinese Ministry of Commerce, noting that in future trade turnover will increase due to cooperation in the energy sector.
«According to the Chinese assessment, in January-September period of the current year, trade turnover between two countries amounted to $77.15 billion and increased by 25.7% compared to the same period of the previous year. According to expert forecasts, we hope to increase the trade turnover to $100 billion by the end of this year,» Luo Weidong, Director of the Eurasian Department of the Ministry of Commerce of the People’s Republic of China, said at the Monday briefing.

In his opinion, in future the figure will grow also due to cooperation in the field of nuclear energy.

«Cooperation in major strategic projects has brought notable success. For example, in the energy sector, in June of the current year, China and Russia signed a mutual agreement on cooperation related to nuclear energy issues (construction of nuclear power units). All projects will stimulate an increase in trade equaling $10 billion,» Luo Weidong added.

He noted that Russia is increasing the export of agricultural goods to China, and that the Russian Federation sold more products to China than imported for the first time, according to the trade turnover in this field in 2017. «According to our figures, export (of products) from China to Russia amounted to $1.96 billion. Import of agricultural products from Russia to China amounted to $2.12 billion. We export to Russia mainly seafood, fruit and vegetables,» the head of the department of the Chinese Ministry of Commerce has added.

He clarified that in this field soybeans comprise significant part of the import from Russia.
Source: ru.investing.com