Russian Ambassador To China: China And Russia Will Not Give Up The Goal Of Bilateral Trade

Russian Ambassador to China Andrei Denisov said recently that despite the outbreak of the new coronavirus, Russia and China will not abandon the goal of reaching US $ 200 billion in bilateral trade by 2024. According to a report by the Russian Satellite News Agency on May 20, the Russian ambassador to China said at the press conference that day, at this stage, neither side will give up this goal. "If we end up slightly behind, there may be nothing terrible." He said, "And I think that the two countries are more likely to meet or exceed this goal." The leaders of China and Russia have previously made clear The goal of doubling the trade volume requires that the trade volume be increased from 100 billion U.S. dollars to 200 billion U.S. dollars in 2024. Denisov said that to double the trade volume target, the average annual growth rate of bilateral trade needs about 15%. Denisov said, "Unfortunately we lost the opportunity this year and may not be able to ensure this rapid growth in trade volume, but in the next few years it is more important to restore the increased capacity of economic and trade exchanges between the two countries." Russia in 2020 It became China's tenth largest trading partner in the first quarter of this year, surpassing Brazil and rising in ranking. During the same period, the scale of bilateral trade between the two countries increased by 3.4% to reach US $ 25.35 billion. Russia ’s exports to China increased by 17.3% to US $ 16.2 billion, while China ’s exports to Russia fell by 14.6%. (Source: Surging News)