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Russia, China to reach $200 bln worth of trade turnover by 2024, says ambassador

From now on the Russian-Chinese trade and economic cooperation will be expanding even more rapidly, Zhang Hanhui said

© Artiom Korotaev/TASS

MOSCOW, August 14. /TASS/. Moscow and Beijing have set the target of boosting trade turnover to $200 bln by 2024, China’s new Ambassador to Russia Zhang Hanhui told reporters on Wednesday.

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"We have already set another target of reaching $200 bln worth of trade turnover by 2024. I believe that goal may be accomplished as from now on the (Russian-Chinese) trade and economic cooperation will be expanding even more rapidly," he said.

"The whole potential has been revealed. Almost all barriers hindering the development of trade and economic cooperation have been removed. Certain problems that do exist will be resolved," the diplomat added.

According to the figures provided by China’s General Administration of Customs, trade turnover between Russia and China increased by 4.7% in January-July period of 2019 year-on-year to $61.13 bln.

The growth trend emerged in 2016 when Russia-China trade turnover gained 2.2% in annual terms to $69.52 bln. In 2017, it surged by 20.8% year-on-year to $84.07 bln, while in 2018 it added 27.1% to over $107 bln.

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