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Russian Economy Ministry expects growth in mutual trade with China to $200 bln in 2023

"There is a need to provide smooth supplies of cargo moving across motor and rail crossings on the Russian-Chinese border for further scale-up of bilateral trade," Pavel Kalmychek added

MOSCOW, October 26. /TASS/. The mutual trade turnover between Russia and China can grow from $170 bln to $200 bln in 2023, Department Director with the Russian Ministry of Economic Development Pavel Kalmychek said on Wednesday.

"Cost figures of mutual trade are expected to be above the level of $170 bln by the year-end, and if current growth rates are kept, the $200 bln objective will be achieved as early as in the next year," he said.

"There is a need to provide smooth supplies of cargo moving across motor and rail crossings on the Russian-Chinese border for further scale-up of bilateral trade," the official added.

The trade turnover between Russia and China surged by 32.5% year-on-year to $136.08 bln in January - September 2022, the Main Customs Administration of China said earlier. Crude oil, natural gas and coal account for about 70% in the value of commodities imported by China from Russia. Other key items of export from Russia include copper and copper ore, lumber, fuel and seafood. China is exporting a broad range of products to Russia, with a significant share taken by smartphones, industrial and specialized equipment, toys, footwear, vehicles, air conditioners and computers.

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