A possible reduction in bilateral trade between Russia and China due to the coronavirus epidemic COVID-19 will not be critical. According to a TEH representative in Beijing, this was stated by Andrei Denisov, Ambassador of the Russian Federation to the People’s Republic of China.

“According to the results of the first quarter of 2020, trade between the two countries not only did not decrease but even increased by several percent compared to the corresponding period last year. But we understand that this is the inertia of last year … I hope and even am sure that a possible reduction in the volume of trade will not be critical and will allow us to make up and make up for all our losses in the foreseeable future, in a short time. I continue to be optimistic in this regard,” Denisov said.

As the ambassador noted, “Further, throughout the year, both we and our Chinese partners need to make great efforts to ensure that our economic relations develop.”

The diplomat noted that not everything depends on the leadership of the two states, since both countries are part of the global economy, and their economic relations are largely dependent on international production chains.

Denisov also emphasized that in recent years, electronic commerce, as part of total trade between Russia and China, has been growing at a faster pace. He expressed confidence that both parties need to create more favorable conditions to stimulate the development of this sector.

The Russian ambassador to China also emphasized that despite the epidemic of coronavirus infection, countries are not abandoning their goal of bringing bilateral trade to $ 200 billion by 2024.

Earlier, Andrei Denisov said that cooperation between Russia and China in the fight against the COVID-19 coronavirus pandemic infection shows confidence between the two countries.

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Dilnaz Shaikh
News and Editorial staff member at The Eastern Herald. Studied journalism in Rajasthan. A climate change warrior publishing content on current affairs, politics, climate, weather, and the planet.