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Russia-China trade turnover grows 13-fold over years treaty of friendship existed — Lavrov

The number increased from $8 bln to $104 bln by the end of 2020

MOSCOW, June 1. /TASS/. The Treaty on Good Neighborliness, Friendship, and Cooperation between Russia and China plays a significant role in accelerating trade and economic interaction between the countries; over the 20 years of its existence, the trade between Russia and China has grown 13-fold, Russian Foreign Minister Sergey Lavrov said on Tuesday.

"The treaty plays a significant role in accelerating trade and economic cooperation. We have something to show to the public. Over the past 20 years, mutual trade has increased 13-fold — from $8 bln to $104 bln by the end of 2020. Today, work on 70 projects totaling over $120 bln continues through the Intergovernmental Commission on Investment Cooperation," the minister said.

Lavrov also drew attention to the developed strategic nature of the partnership between the countries in the energy sector and growing cooperation in industry and agriculture.

According to Russian Deputy Foreign Minister Igor Morgulov, Moscow and Beijing minimized the negative effect of Western sanctions on their economic interaction by using national currencies in their settlements.

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