Putin predicts Russia and China’s trade to exceed $200 billion target by 2023.

In an article penned ahead of Chinese President Xi Jinping’s visit to Russia, Russian President Vladimir Putin expressed confidence that the annual trade between Russia and China will exceed the targeted $200 billion by 2023. Putin emphasized that the trade and economic partnership between the two nations is among their top priorities.

The bilateral trade between Russia and China has been growing steadily, and in 2022 it doubled to reach $185 billion, which Putin referred to as a new record. He further added that there is every reason to believe that the $200 billion target, which was set by him and President Xi Jinping, will be surpassed this year, instead of the previously predicted 2024.

The two nations have been working to strengthen their trade and economic ties through various initiatives, including the China-Russia Investment Cooperation Fund and the Russian Direct Investment Fund. Putin also highlighted the importance of energy cooperation between the two nations, stating that Russia is ready to supply China with natural gas and other energy resources.

In conclusion, the predicted surpassing of the $200 billion target by 2023 is a positive sign of the continued growth of trade and economic partnership between Russia and China. It is also a testament to the effectiveness of their joint efforts to enhance cooperation and promote mutually beneficial economic relations.

Overall, the growth in trade between these two major global powers has significant implications for the global economy and underscores the importance of building strong partnerships in the ever-changing global trade landscape.