18-02-2025
Russia and China plan to increase trade turnover by 20% by 2030.

Russia and China plan to increase trade turnover by 20% by 2030.

According to the data of the Ministry of Economic Development announced by the government of the Irkutsk region, by that time the trade turnover between the countries may reach $300 billion. In 2023, this figure amounted to a record $244.8 billion.

Despite the slowdown in the overall growth rate of bilateral trade turnover, certain regions of Russia continue to actively develop trade ties with China. For example, in the first nine months of 2024, exports from the Irkutsk Region to China increased by 23% year-on-year. The region's main export commodities remain fuel and mineral resources, timber, timber products, metals and metal products.

The basis of the Irkutsk Region's international cooperation with China is formed by official agreements with the provinces of Liaoning, Heilongjiang and the Inner Mongolia Autonomous Region, the regional government emphasized.