Russian Ambassador to China: the decline of trade turnover with China for the year will be 30%

BEIJING, 8 Dec. Zhanna Manukyan. The decline of bilateral trade between Russia and China by the end of 2015 will amount to 30%, said in an interview with Russian Ambassador to China Andrey Denisov.

“In the current trading year, from the point of view of cost performance, there was a definite decline. For the year it will be 30%, it is, of course, a lot. This was mainly due to the fall in international prices of major export commodities, primarily oil and oil products,” — said Denisov.

“Consequently, losing income from exports, our operators have lost the ability to import, and the vicissitudes of the ruble has exacerbated this trend. Anyway, the year had an impact on our trade, but hopefully not decisive,” added the Ambassador.

He stressed that Russia’s trade with China shifted from a simple exchange of goods toward the promotion of various investment projects in various fields.

“This is a guarantee that we create the base for the future, because investment projects are implemented over several years,” the Ambassador added.

In 2014 the volume of bilateral trade between Russia and China amounted to 95 billion dollars. The parties intend to increase trade by 2015 to $ 100 billion. In August Denisov said that this year will be difficult to achieve its targets for increasing trade with China to USD 100 billion in coming years however, this task can be achieved.

The full text of the interview is available on the website at 11:30 GMT