MOSCOW, July 16. /TASS/. The use of the dollar and euro in trade settlements between Russia and China has dropped "to a negligible level," Russian Foreign Minister Sergey Lavrov wrote in an article for the Kommersant newspaper. It is titled "A constant in an era of radical change: On the 25th anniversary of the Russian-Chinese Treaty on Good-Neighbourliness and Friendly Cooperation."

"Financial settlements between our countries have been almost entirely converted to national currencies, and the share of transactions conducted in US dollars and euros has diminished to a negligible level," the minister noted.

As Lavrov stressed the Treaty on Good-Neighbourliness and Friendly Cooperation "established a robust institutional framework for the qualitative enhancement of trade and economic relations."

"The economies of our respective states are intrinsically complementary. Indeed, the figures speak for themselves. Over the past quarter-century, trade turnover has increased more than thirtyfold and, for three consecutive years, it has consistently surpassed $200 billion. Since 2010, China has remained Russia’s principal trading partner, while, conversely, our nation ranks among the top five trading partners of the PRC," Lavrov said.

"Bilateral investment continues to grow. The new Russia-China agreement on the promotion and protection of investments, signed and ratified last year, is designed to facilitate further growth in this domain," the Russian top diplomat concluded.