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How will trade relations between Russia and China develop?

The mutual interest of Russia and China in the international market is growing: trade turnover between the countries increased by more than 26% and exceeded RUB 20tn in 2023. By 2030, the heads of government of Russia and China want to double this amount, there are already all the prerequisites for this.

“Russia and China are actively expanding cooperation across the entire spectrum of economic and investment relations, trade turnover reached a record of $240bn in 2023 and, according to forecasts, it will exceed this figure by the end of 2024. Such dynamics has become possible due to the reduction of various barriers and the transition to mutual settlements in national currencies,” Kirill Dmitriev said, Head of the Russian Direct Investment Fund (RDIF).

Russian food products are growing in popularity in China, while petroleum products, wood, gem stones and precious metals are still relevant. In Russia there is still high demand for clothing and footwear from China, automobiles and industrial goods, including products for industrial production.

On November 13-15 at the Rostki Forum, experts will tell how and with what Russian enterprises can enter the Chinese market, as well as discuss all the nuances of international currency transactions between the countries.