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Russia-China trade turnover in 2013 to top $100 billion – expert

The two countries actively develop co-production arrangements in the fields of oil and gas, nuclear energy, electric power, high technologies, and trade in coal

BEIJING, January 24 (Itar-Tass) — Russia-China trade turnover in 2013 will increase up to more than $100 billion, Tung Wei, an expert at Central University of Finance and Economics (CUFE), told Itar-Tass here on Thursday.

"The two countries' cooperation has been developing at a rapid pace in recent years," Tung Wei said. A number of experts in Russia and China predicted a rise in trade turnover between the two countries in 2012 up to $90 billion. However, "the unsteady development of the world economy and a slowdown in China's economic growth rate resulted in the indicator's going down to $88.1 billion," she pointed out.

Notwithstanding that, the CUFE expert optimistically estimates prospects for the widening of trade cooperation between the Russian Federation and the People's Republic of China in 2013.

"The two countries actively develop co-production arrangements in the fields of oil and gas, nuclear energy, electric power, high technologies, and trade in coal. Considering the dynamic development in the said sectors, turnover in trade between Russia and China will exceed the 100 billion mark," the expert forecasts.

"This will enable the two countries to accomplish earlier than planned the task, set by the leaders of Russia and China, namely, to bring the indicator up to $100 billion by the year 2015," the CUFE expert summed up.

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