Reshetnikov: Non-resource, non-energy exports are the main driver of trade with China
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"The main increase in trade turnover is expected in the non-commodity, non-energy goods segment, whose supplies from Russia to China will grow twice as fast as overall exports," Reshetnikov said.
Non-resource, non-energy exports are becoming the main driver of Russian-Chinese trade. This was stated by Russian Economic Development Minister Maxim Reshetnikov, as quoted by the Ministry's press service, according to RIA Novosti .
According to Reshetnikov, Russian exports of metallurgical products to China increased by 42% from January to August compared to the same period last year, chemical products by 24%, and food by 11%. At the same time, Russia increased its purchases of chemical products from China by 11%, metal products, and textiles by 16% and 12%, respectively.
"The main increase in trade turnover is expected in the non-commodity, non-energy goods segment, whose supplies from Russia to China will grow twice as fast as overall exports," Reshetnikov said following the visit to China of a delegation led by Russian Prime Minister Mikhail Mishustin.
Reshetnikov also stated that trade and economic cooperation between Russia and China will continue to seek new growth opportunities for mutual trade, primarily through access to the Chinese market for new Russian goods.
The parties will also continue their investment cooperation, including through the Russian-Chinese Intergovernmental Commission on Investment Cooperation, whose portfolio includes over 80 projects worth over $200 billion, the minister added. He noted that Chinese businesses have traditionally shown interest in investing in chemical production, infrastructure construction, mining, and mechanical engineering.
"Prospects for Russian-Chinese investment cooperation are linked to the launch of joint projects in high-tech manufacturing, agriculture, logistics, and Arctic development, including utilizing the potential of the Northern Sea Route," Reshetnikov noted.
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