BEIJING, October 28. /TASS/. Russia has taken an important place among China’s trade partners and has become one of its foreign trade drivers, Russia’s Trade Representative in China Alexey Dakhnovsky said.

"For the first time in a long time, Russia has become a really important market for China and even one of the drivers of foreign trade," Dakhnovsky said. He recalled that in the first 9 months of this year Russian-Chinese trade turnover increased by 2% in dollar terms and reached over $180 bln, despite problems with settlements.

"We certainly welcome the intensified comprehensive cooperation between the regions of Russia and China, and we believe that trade and economics are a base for building strong bilateral ties," Dakhnovsky said.

At the same time, he noted that bilateral economic relations should not be limited to trade. "We believe that industrial, technological, and infrastructure collaboration are viable areas of economic cooperation," he said.

In connection with the departure of a number of foreign companies from Russia, Chinese partners were able to take advantage of new opportunities and increase supplies to Russia, but as the Russian market becomes saturated, the situation requires adjustments in approaches, he emphasized. "In the new conditions, those foreign companies that will consistently localize production, create stable operational chains, including technology transfer, will be able to strengthen their positions on a long-term basis," the trade representative said.

According to Chinese customs data, China’s trade turnover with Russia reached a record $240.11 bln in 2023, an increase of 26.3%. Exports from China to Russia during this period grew by 46.9% and amounted to about $110.97 bln. Imports of Russian goods increased by 12.7% and amounted to $129.14 bln. At the end of the year, Russia became China’s fourth largest foreign trade partner, after the United States, Japan, and South Korea.