China has been Russia's main trading partner for over 10 years. The volume of mutual trade between the two countries has been growing for two years in a row by about a third, reaching a record high of about $190 billion in 2022, as reported by TASS.
The prime minister expressed confidence that the volume of mutual trade would reach $200 billion in 2023, a target previously set by Russia's President and China's President. The first quarter of this year has already seen an increase in trade by almost a quarter.
In 2022, almost two-thirds of payments between Russia and the PRC will be made in national currencies. The work on strengthening economic sovereignty will continue.
Mikhail Mishustin recalled the objectives set by Vladimir Putin and Xi Jinping to enable entrepreneurs of the two countries to find points of growth:
- to significantly increase the scale of bilateral trade;
- to improve logistical connectivity;
- increase the level of financial and industrial cooperation;
- strengthen the energy partnership;
- expand cooperation in technology and innovation.
"Colleagues, you have good opportunities to show your initiative, entrepreneurial spirit and organisational skills. Russia is ready to provide practical support to representatives of the business community who will respond to this call"
Mikhail Mishustin Prime Minister of Russia
Today, some 80 major joint projects have already been identified with a total investment of over $165 billion.