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Russia to become China’s largest trade partner after US soon — Rosneft CEO

Sino-Russian trade turnover climbed by almost 30% in the first nine months of 2023 year-on-year to $176.4 bln, Igor Sechin noted

BEIJING, October 19. /TASS/. Russia may become China’s largest trade partner after the US soon, CEO of Rosneft, Executive Secretary of the Commission for the Russian President on the strategy of development of the fuel and energy industry and environmental safety Igor Sechin said.

"China has been Russia’s major trade partner for more than a decade. In turn, Russia has become China’s fourth-largest main foreign trade partner this year. With this dynamics of bilateral trade maintained, Russia may become China’s second-biggest trade partner after the US in the coming years, outpacing Japan and South Korea," he said at the Russian-Chinese Energy Business Forum.

Sino-Russian trade turnover climbed by almost 30% in the first nine months of 2023 year-on-year to $176.4 bln, Sechin noted. "There are all grounds to suggest that trade turnover between our countries will surpass the $200 bln target already this year," he added.

Aggregate trade turnover between Russia and China grew to $660 bln over the past five years, with energy accounting for more than 75% of Russian exports to China, Rosneft CEO said.

The fifth Russian-Chinese Energy Business Forum kicked off in Beijing on Thursday. The Russian Presidential Commission for the Strategic Development of the Fuel and Energy Sector and Environmental Security together with the National Energy Commission of China act as its coordinators. Rosneft and CNPC are co-organizers of the forum.

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