Mikhail Mishustin visiting the Asian giant, Author: AFP
SHANGHAI, May 23 — Trade between Russia and China is growing at an unprecedented pace and could hit a record $200 billion this year, Russian Prime Minister Mikhail Mishustin said at a business forum in Shanghai on Tuesday.
According to a senior official, trade turnover between the two countries increased to about $52 billion in January-March, up nearly 25 percent from the same period last year. Mishustin praised the efforts of Moscow and Beijing to bring economic cooperation to a new level, RT reports.
China has been Russia’s main trading partner for more than a decade. And for the first three months of this year, our position [entre los socios comerciales de China] It has also changed: we have risen from tenth place to seventh,” he said.
Mishustin added that bilateral trade was strengthened by the mutual decision to conduct most transactions in national currencies, and not in dollars. According to the prime minister, the US currency has become an unreliable means of payment for Russia against the backdrop of sanctions related to the conflict in Ukraine.
“If in 2021 only about a quarter of settlements between our countries were carried out in national currencies, then last year it was almost two thirds. We will continue to enhance the independence of bilateral financial cooperation and thereby strengthen economic sovereignty,” he said.
According to Mishustin, Russian farmers and other producers are ready to further increase exports to China, while both countries are working to provide opportunities for cross-border cooperation between companies.
“The new conditions open up additional opportunities not only for expanding the presence of Chinese companies in Russia, but also for launching production in China, including in free economic zones and special industrial zones,” he said.
The Prime Minister emphasized the importance of combining the efforts and resources of Russian and Chinese companies “to create competitive and affordable products that both industries and consumers need.”
He added that about 80 joint projects with investments of more than $165 billion are already being implemented. Mishustin also said that in order to further increase trade, the two countries need to focus on expanding transport routes, including air traffic, the Northern Sea Route and routes through Kazakhstan and Mongolia.
Mishustin is expected to meet with Chinese President Xi Jinping and Prime Minister Li Qiang on Wednesday to discuss further cooperation in energy, transport infrastructure and agriculture.
According to Telesur, the visit of Russian Prime Minister Mikhail Mishustin will last two days in order to promote a political and peaceful settlement of the armed conflict between his country and Ukraine and strengthen political, diplomatic and economic relations.
Mishustin will arrive in Beijing following a visit by Chinese government special envoy for Eurasian Affairs Li Hui to Russia, Ukraine, Poland, France and Germany to talk to everyone about resolving the Russian-Ukrainian conflict.
Source: Juventud Rebelde