Based on reports from RIA Novosti and 'Russia Today' (RT), on July 4, Russian President Vladimir Putin stated at the Council of Heads of State of the Shanghai Cooperation Organization that Russia-China trade And economic cooperation is expanding. At present, more than 80% of the trade between Russia and China is settled by ruble and RMB.
In 2022, the total trade volume between China and Russia will reach a record US$190.271 billion, a year-on-year increase of 29.3 %, China has been Russia's largest trading partner for 13 consecutive years.
According to reports, the trade volume between the two countries continued to accelerate after reaching this new high. Since the beginning of this year, imports and exports have grown at a double-digit rate.
According to data from the General Administration of Customs of China, from January to May 2023, the trade volume between China and Russia was 93.806 billion US dollars, a year-on-year increase of 40.7%. Among them, China's exports to Russia were US$42.947 billion, an increase of 75.6%; China's imports from Russia were US$50.859 billion, an increase of 20.4%.
Previously, the heads of state of China and Russia jointly set the goal of reaching 200 billion U.S. dollars in bilateral trade in 2024. Russian Finance Minister Siluanov said on May 31 that bilateral trade is growing at an unprecedented rate and is expected to exceed the previously set target of US$200 billion in 2023.
Russian Foreign Minister Sergei Lavrov delivered a video at the opening ceremony of the 8th 'Russia-China: Cooperation in a New Era' International Symposium held in Beijing at the end of June The speech said that despite the attempts of some countries to obstruct, Russia-China economic and trade cooperation continued to expand.
When talking about the relationship between the two countries, Lavrov quoted a poem by the famous Chinese poet Li Bai, 'The sound of apes on both sides of the strait cannot be heard, and a light boat has already passed ten thousand mountains.' 'Moving forward, a comprehensive partnership and strategic collaboration with the People's Republic of China remains one of the absolute priorities of Russia's diplomacy,' he said.
He emphasized, 'What brings Russia and China closer is that our two countries are one of the very few truly sovereign countries that pursue an independent foreign policy.'
Putin participated in the Shanghai Cooperation Organization Heads of State Council online Source: Russian Satellite News Agency
At the Council of Heads of Member States of the Shanghai Cooperation Organization on the 4th, Putin also stated that in 2022, the trade volume between Russia and the member states of the Shanghai Cooperation Organization will reach a record 263 billion. Dollar.
'From January to April this year, it increased by another 35 percent.' Putin pointed out that the ruble accounts for more than 40 percent of Russia's settlements with SCO countries.
The 23rd meeting of the Council of Heads of State of the Shanghai Cooperation Organization was held online on July 4, chaired by Indian Prime Minister Narendra Modi. The summit is the first time India has hosted a meeting of the SCO Council of Heads since it became a member of the SCO in 2017.
Source: Observer Network