Russia and China to double trade turnover by 2024
The document has not come into force yet, but observers predict that the main "points of growth" of bilateral trade in it will be traditional exploration and trade in energy resources, such new areas as trade in agricultural products, as well as the organization of interaction between medium and small enterprises.
In fact, the parties will have to increase their trade turnover by an average of $ 20 billion annually in the next five years. "This is a very real goal", said Professor Alexey Maslov, head of the HSE School of Oriental studies. He points out that the beginning of Russian gas supplies to China will give a strong impetus to the physical growth of trade this year. Deliveries of "blue fuel" will start on December 1 through the gas pipeline "Power of Siberia". It will export 38 billion cubic meters of natural gas to China within 30 years. Now negotiations are underway on the second - Western - route of Russian gas supplies, the construction of a new gas transportation line with a capacity of 30 billion cubic meters per year can begin in the near future.
Energy resources trade has traditionally been the engine of growth in Russian-Chinese trade turnover. Thus, for the third year in a row, Russia remains the largest oil supplier to China, providing about 15.7% of the supply of the hydrocarbon fuel to China. This is evidenced by the report of the Chinese Association of oil companies. Last year, Russia exported 71.5 million tons of "black gold" to China with an increase in supplies by 19.7%.
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