Russia, which lost most of the European market with its invasion of Ukraine, is negotiating with China to improve its trade. The representative of the First Deputy Prime Minister of the Russian Federation Andrey Belousov said that Russia and China discussed the need to remove restrictions related to railway and road cargo transportation on their borders. He announced this following a meeting of the intergovernmental Russian-Chinese commission on investment cooperation.
Negotiations to increase the supply of grains and oilseeds
As noted in the materials on the website of the Government of the Russian Federation, during the meeting, the parties also discussed the importance of facilitating the expansion of cargo transshipment capacities at checkpoints to increase the supply of grains and oilseeds to China.
“Opening the meeting, Andrei Belousov stressed that China is Russia’s key partner in trade and investment. In just 9 months of this year, bilateral trade increased by 30%,” the report says.
Alexei Dakhnovsky, Trade Representative of the Russian Federation in China, previously reported that the parties see prospects in building up cooperation, and Beijing is interested in purchasing domestic agricultural products.
“Agricultural and food products are, of course, one of the major growth points for our exports to China. The Chinese, of course, are interested in the supply of a wide range of Russian products, both agricultural and fertilizers, they have spoken about this more than once,” Dakhnovsky said.
Recall that China is the world’s largest importer of soybeans – annually about 100 million tons of this crop are imported into the country, and about 20 million tons are produced on the domestic market.
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