The countries’ mutual trade can exceed $200 billion in 2023
70 percent of Russia-China cross-border settlements are made in national currencies, the Russian rouble and the Chinese yuan, Prime Minister Mikhail Mishustin said at the talks with Premier of the State Council of the People’s Republic of China Li Qiang. The transcript of the meeting is published on the official website of the Russian Government.
Mikhail Mishustin reminded that about a new record set in 2022, about $190 billion. “In January-March, mutual trade volumes have increased by almost 25 percent, year-on-year, and reached about $52 billion… I am confident that in 2023 we will accomplish the objective that was set by the leaders of our states to expand mutual trade to $200 billion,” said the Prime Minister.
According to the Prime Minister, the energy partnership between the two countries has attained a strategic level. “Russia is the largest provider of oil to China, and we are increasing the exports of natural gas, coal and electricity. We are implementing major energy projects jointly with China, such as the Power of Siberia, Yamal LNG, Arctic LNG 2, the Amur Gas Chemical Complex, and the Ust-Luga gas processing complex,” he said.
Mikhail Mishustin also said that developing transport and logistics routes through the border between Russia and China has special importance in the new geopolitical reality. “This way, we can increase cargo flows and further expand Russia-China trade,” he said.
Besides, according to the Prime Minister, the countries “are also offering new opportunities for strengthening high-technology cooperation. This covers aircraft manufacturing and shipbuilding, producing machines and equipment, engaging in joint space research projects and many other areas”.