Russia to Boost Bilateral Trade with China to $200bln by 2024

TEHRAN (defapress) – The Russian government said on Thursday it planned to increase the volume of bilateral trade with China to $200 billion by 2024, while the volume of Russian-Indian trade is expected to reach $30 billion over the same period.

News ID: 72706

Date: 27 September 2018 - 13:30

"The volume of bilateral trade between Russia and China (is planned) to grow to $200 billion… The volume of bilateral trade between Russia and India (is planned) to rise to $30 billion," the government said in a statement on the main areas of its activities through 2024.

The document added that the Chinese investment in the Russian economy was expected to be increased to $15 billion.

According to the statement, the volume of trade between Russia and Middle Eastern and Northern African countries is expected to reach $50 billion, while the volume of Russia’s trade with Sub-Saharan African states is expected to grow to $7 billion, Sputnik reported.

The volume of trade between Russia and Latin American countries is planned to be boosted to $20 billion.

According to the official figures, Russian-Chinese trade grew by 20.8 percent to $84 billion in 2017. The Chinese Commerce Ministry said in May that bilateral trade with Russia might surpass $100 billion in 2018 and reach $200 billion in 2020.

Russian-Indian trade amounted to $9.4 showing a 21.4 percent year-on-year increase in 2017.

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