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Sino-Russian trade to reach $300 bln by 2030 — deputy minister

Bilateral relations between Russia and China should be expanded with "detailed plans, roadmaps with specific events and projects," Dmitry Volvach noted

HARBIN, May 17. /TASS/. Trade turnover between Russia and China may reach $300 bln by 2030, Russia’s Economic Development Deputy Minister Dmitry Volvach said.

"We are confident that we will reach an increase in trade turnover between Russia and China to $300 bln, or 25 trillion rubles, roughly by 2030," he said at the Russia-China Forum on Interregional Cooperation in China’s Harbin.

Bilateral relations between Russia and China should be expanded with "detailed plans, roadmaps with specific events and projects," Volvach said, adding that it "results in mutual increase in trade turnover and investment activity."

Trade turnover between Russia and China increased by 29.3% in 2022 to $190 bln. In 2023, it rose by 26.3%, hitting a record level of $240.11 bln.

The 4th Forum on Interregional Cooperation has kicked off in Harbin, which hosts the 8th Russian-Chinese Expo on May 17-21, where numerous businesses and 16 Russian regions present their stands. It is expected to stimulate the socio-economic development of the two countries, make better use of their investment opportunities, encourage the implementation of joint projects, and increase the supply of quality products. The area of the whole exhibition encompasses 388,000 square meters. Over 5,000 types of goods are presented there. TASS is the general information partner of the event.

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China Trade & Cooperation

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