Deputy Prime Minister Denis Manturov announced on November 1 that Russia and China will prioritize increasing trade turnover between the two nations. He emphasized the importance of strengthening investment ties and creating a fair, transparent, and predictable business environment to enhance transport connectivity and boost trade volumes.
Manturov highlighted that bilateral trade turnover has more than doubled over the past four years, reaching $245 billion. However, he noted a recent slight decline this year due to market conditions and external challenges. “Additional efforts are needed to return to growth mode,” Manturov stated, citing the updated intergovernmental agreement on investment promotion and protection signed in May as a timely measure.
China’s imports of Russian wheat reached a record $1.293 billion in September, the highest since November 2023. Meanwhile, Russian barley exports to China have risen for four consecutive months, with September shipments increasing by a third to $9.84 million.
