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Economy · Macro · Govt
Sino-Russian trade to reach USD 100 bln
2018/11/08 09:10:29
China's News, China's Financial News, Sino-Russian Trade

Nov 08, 2018 (China Knowledge) - Russian Prime Minister Dmitry Medvedev has said that the trade ties between China and Russia are on a positive trajectory and the bilateral trade is expected to reach USD 100 billion. The Russian Prime Minister arrived in China on Monday for the 23rd regular meeting between the heads of government of both countries. He met with Chinese President Xi Jinping and Premier Li Keqiang as well as participated in the China International Import Expo (CIIE).

Medvedev also emphasized on the importance of Russia-China relations, as both countries are facing unfriendly actions by the U.S.; whose protectionist decisions is believed to have been undermining the system of international trade.

During his meeting with Premier Li Keqiang both countries signed 2 agreements and 7 protocols ware signed. The protocols cover areas such as veterinary and sanitary requirements of mutual deliveries of dairy products to intergovernmental energy and investment cooperation. Two agreements drafted with regards to space and satellites and 2 Memorandum of Understanding (MoUs) were also inked. Both governments agreed to cooperate in the peaceful use of the GLONASS Global Navigation Satellite System and the BeiDou Navigation Satellite System, with cooperation in monitoring space debris and collection of data carried out at the same time.

Russia and China also signed two MoUs for cooperation in trade services and the streamlining of custom clearance procedures and customs control of goods moved within the framework of e-commerce.

Both countries will also work on development projects in agriculture in the Russian Far East, Baikal Region, and Northeast China.

Medvedev had also attended the CIIE, where he was received by President Xi Jinping.



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