Putin predicts record trade with China
Moscow and Beijing have continuously expanded their economic relations in recent years
Economic cooperation between Russia and China will continue to intensify and reach new heights in the near future, President Vladimir Putin said at a meeting with China’s leader Xi Jinping at the Shanghai Cooperation Organization (SCO) summit on Thursday.
“The diverse relations between our countries are actively developing. Last year, trade revenue grew 35% to surpass $140 billion,” Putin said, adding that the volume of mutual trade grew by another 25% in the first seven months of this year.
“I am confident that we will reach new record levels by the end of the year and in the near future, as agreed, increase annual trading turnover to $200 billion or more,” he added.
Last month, Beijing’s ambassador in Moscow expressed hope that Russia-China trade could reach the targeted $200 billion milestone this year.
He noted that despite the challenges related to the Covid-19 pandemic, the global economic downturn and difficult international and regional situations, economic cooperation between the two nations is showing excellent results and sustainable development.