China-Russia trade expects to surpass $ 40 bn in '07
Trade between China and Russia is expected to set a new record this year at over $40 billion this year compared to $33.4 billion last year, Chinese Vice Minister of Commerce Wei Jianguo has said.
By PTI |
BEIJING: Trade between China and Russia is expected to set a new record this year at over $40 billion this year compared to $33.4 billion last year, Chinese Vice Minister of Commerce Wei Jianguo has said.
"The two-way trade has kept increasing since 1999, with an average annual growth of 28.6 per cent," Wei told an opening ceremony of the 3rd Northeast Asia Investment and Trade Expo which opened yesterday in Changchun, capital of northeast China's Jilin Province.
The Sino-Russian trade had reached USD 25 billion in the first seven months of 2007 and border trade has become an important part of the bilateral trade, he said.
Statistics show that the border trade between the two strategic partners stood at USD seven billion in 2006 and reached USD 4.6 billion during the January-July period in 2007.
Currently, China is Russia's third largest trading partner, while Russia is China's eighth largest trading partner.
"The two-way trade has kept increasing since 1999, with an average annual growth of 28.6 per cent," Wei told an opening ceremony of the 3rd Northeast Asia Investment and Trade Expo which opened yesterday in Changchun, capital of northeast China's Jilin Province.
The Sino-Russian trade had reached USD 25 billion in the first seven months of 2007 and border trade has become an important part of the bilateral trade, he said.
Statistics show that the border trade between the two strategic partners stood at USD seven billion in 2006 and reached USD 4.6 billion during the January-July period in 2007.
Currently, China is Russia's third largest trading partner, while Russia is China's eighth largest trading partner.
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