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5 Jun, 2021 08:48

Russia-China trade turnover may reach $200 BILLION by 2024, Putin says

Russia-China trade turnover may reach $200 BILLION by 2024, Putin says

The volume of trade between Russia and China is expected to amount to $200 billion in three years, according to Russian President Vladimir Putin, who says relations between Moscow and Beijing are now at an unprecedented level.

 “I think we could reach the level of $200 billion, as we agreed, as soon as by 2024,” Putin said, speaking at an annual economic forum in St. Petersburg.

He pointed out that Russia-China trade turnover had totaled $104 billion by the end of 2020, exceeding the targeted $100 billion.

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Although the economic disruption caused by the coronavirus pandemic didn’t prevent the mutual trade volume from reaching this milestone, the turnover in 2020 was down almost 3% against the previous pre-pandemic year.

Nonetheless, trade between the two nations saw a nearly 20% year-on-year surge in the first four months of 2021, reaching $40.207 billion.

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