MOSCOW: Russia and China could strengthen their economic relations and reach a new high in bilateral trade amid global trade wars, Russia...
MOSCOW: Russia and China could strengthen their economic relations and reach a new high in bilateral trade amid global trade wars, Russian Deputy Foreign Minister Andrey Rudenko told TASS.
When asked to comment on Russian Special Envoy Boris Titov’s earlier remarks that US President Donald Trump’s tariffs will bolster economic ties between Russia and China, he said, "I agree with this assessment."
"Cooperation is developing in various fields and areas, so it is difficult to single out any particular area of engagement there," Rudenko went on to say. "But nevertheless, I am sure that our prospects are very good and we will reach another record high in our trade turnover."
During a video call with Chinese President Xi Jinping in late January, Russian President Vladimir Putin said trade between the two countries increased by 7% to $220 billion-245 billion over the first 11 months of 2024, compared with a year earlier. Putin said China is Russia’s main trading partner, while Russia is the fifth-largest trading partner of China.
According to China’s customs data, trade with Russia rose by 1.9% in in 2024 from a year earlier, reaching a record high of $244.81 billion. Imports from Russia remained virtually unchanged at $129.32 billion. Exports to Russia went up by 4.1% to $115.49 billion.
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