CHENGDU /China/, November 11. /TASS/. Russia and China intend to strategically develop and diversify bilateral trade, Russian Federation Council Deputy Chairman Nikolay Zhuravlyov said at the opening ceremony of the Made in Russia exhibition in Chengdu, the administrative center of Sichuan Province in southwestern China.
“Our countries have a very high potential for developing trade, and we are serious about exploring new opportunities,” he said.
Zhuravlyov noted that trade and economic relations between China and Russia “are developing at a rapid pace.”
“Over the past four years, we have managed to double our trade turnover, and this is far from the limit, our countries are working together to diversify bilateral trade,” the senator said.
In recent years exports of Russian agricultural products, chemical products and mineral fertilizers to China have been rapidly increasing, he noted. In particular, Russian food exports to the Chinese market increased more than one and a half times last year, he added.
The senator recalled that Russian President Vladimir Putin and Chinese Chairman Xi Jinping set the task of significantly increasing the scale of bilateral trade between the two countries increasing the level of financial and industrial cooperation, and expanding cooperation on technologies and innovation. He expressed confidence that the Made in Russia festival-fair will make a positive contribution to strengthening the friendship between the peoples of the two countries.
According to Chinese customs, the volume of trade turnover between Russia and China in January-October increased by 2.8% year-on-year and amounted to $202.2 billion. In 2023, it reached a record high of $240.11 billion, an increase of 26.3%.
The Made in Russia festival-fair is being held from November 11 to 17 in the center of Chengdu. The event is sponsored by the Russian Export Center (REC) with the support of the Russian Agriculture Ministry and the authorities of Sichuan Province. In total 130 manufacturers from Russia are presenting food products, cosmetics, handicrafts and much more at the festival-fair. Russian suppliers are holding meetings with Chinese business partners on the sidelines of the exhibition and discussing joint projects.
This year, the REC has already held two Made in Russia festival-fairs in China. The first was held in January in the cities of Shenyang and Dalian (northeastern Liaoning Province), the second was held in May in Harbin (Heilongjiang Province bordering Russia). In September, President Vladimir Putin praised the Made in Russia program for promoting national products. The President stressed that Russian goods with high added value should not only be recognizable, but also accessible to foreign buyers.
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