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Russian-Chinese trade exceeds $60 bln in 2011 – RF Chamber of Commerce and Industry

January 24, 2012, 19:54 UTC+3

In 2010, Russian-Chinese trade reached 55-57 billion U.S. dollars

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MOSCOW, January 24 (Itar-Tass) —— Russian-Chinese trade exceeded 60 billion U.S. dollars in 2011, Vice President of the Russian Chamber of Commerce and Industry Georgy Petrov said during Tuesday’s meeting of the chamber devoted to the work of the Russian-Chinese Business Council in 2011.

“We have not yet got official data of bilateral trade in 2011,” he said, adding, “However, I am confident that the index will exceed 60 billion U.S. dollars.”

“This year is expected to be very successful in the sphere of economic cooperation between our countries,” the Russian representative said.

“Russia and China have a great number of various institutions and mechanisms in their relations,” Petrov said. “At the same time, the Business Council became one of the most efficient instruments for the stepping up of bilateral trade and economic cooperation.”

Touching upon major results of the Business Council’s activity in 2011, he mentioned implementation of 27 large joint projects in 19 Russian regions for total worth about ten billion U.S. dollars.

In 2010, Russian-Chinese trade reached 55-57 billion U.S. dollars. As for prospects for bilateral trade in 2012, last December head of the Russian Trade Mission in China Sergei Tsyplakov said that the index might reach 78-79 billion U.S. dollars, although there is no official data. Besides, in his words, Russian-Chinese trade was at about 72 billion U.S. dollars in January-November 2011.

In June 2011, Russian Prime Minister Vladimir Putin at the talks with Chinese President Hu Jintao presented Russia’s vision of the issue. Back then, the Russian prime minister said that bilateral trade should go up to 100 billion U.S. dollars by 2015, and to 200 billion U.S. dollars by 2020.


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