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 fostering a fair, transparent, and predictable business environment as key steps to enhance transport connectivity and expand trade volumes.
Manturov highlighted that bilateral trade turnover has more than doubled over the past four years, reaching $245 billion. However, he noted a slight decline this year attributed to market conditions and external challenges. “Additional efforts are needed to return to growth,” Manturov stated, citing the May signing of an updated intergovernmental agreement on investment promotion and protection as a timely measure.
Recent data revealed China’s record $1.293 billion purchase of Russian wheat in September, the highest since November 2023, alongside steady increases in barley imports. Barley imports from Russia to China rose by a third in September, totaling $9.84 million.
