Russian Ambassador: there are reasons to be optimistic about the prospects of relations with the PRC in the economy

Russian Ambassador: there are reasons to be optimistic about the prospects of relations with the PRC in the economy


BEIJING, February 8. /Corr. Andrei Kirillov, Alexey Selishev/. The Russian side has grounds for optimistic forecasts for the development of cooperation with China in economy. This was stated in an interview korr. Russian Ambassador to China Andrey Denisov. “We have reasons for optimism, and cautious predictions of the future of our successful cooperation,” the diplomat said, stressing that “it has become more systemic”.

Not just the delivery of goods

“If we take the same energy, it’s not just the delivery of goods in one and the other side is a sort of energy NATO,” the Ambassador explained. Thus, despite the reduction in revenues from the sale of Russian oil to China, “the volume of supply to China of crude oil rose by nearly 20%”.

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At the same time, Denisov stressed that “the investment component in our cooperation increased significantly just in the last year”. “It was also caused by the establishment of bodies to manage these processes – the Commission on investment cooperation chaired by first Deputy Prime Ministers of the two countries. The Commission only began its work, but in her portfolio for 58 large projects, and their number will increase,” – said Denisov.

In addition, stronger Russian-Chinese ties in such areas as industrial cooperation. “We’ve got takes on a concrete shape, this form of cooperation such as industrial cooperation in the production of a whole range of engineering products, primarily in the aircraft industry”, – said the diplomat.

Financial cooperation enters a new level

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“In the past year significant momentum gained our cooperation in the financial field. Both parties – and China, and we aim to increase the share of payments in national currencies”, – said Denisov. At the same time “for objective reasons, here the advantage until the Chinese yuan, although on some commodity positions sufficiently profitable to trade in rubles”, he said. Currently, “the share of calculations in national currencies in Russian-Chinese trade, going through the banking system increases,” said Denisov. “While it is about 8%, but there is every reason to expect that it will grow”, – said the Ambassador.

The output of find

Commenting on the result from Western sanctions the complexity of some of the payments and cash operations during the Russian-Chinese cooperation, the diplomat noted that “it is necessary to build relations so as not to harm neither myself nor my partner”. “We basically, these relations manage to build any insurmountable problems and difficulties in this area in the past year I have not seen”, – he explained. “We will always find” – said Denisov.

The Ambassador added that “sanctions against our country, for all their absurdity and immorality, brought, oddly enough, and good.” “They expanded the boundaries of the market in a number of commodity positions for us in the Chinese market and for Chinese companies on our market. These new possibilities we and the Chinese are not very actively used,” – said the diplomat.

A two-way street

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Denisov noted that “outside the context of sanctions, we have new and exciting destinations for trade”. In particular, as an example, the Ambassador called the cooperation between Russia and China in the field of agriculture. “We have worked here, but, first, in very small volumes, and secondly, mostly one-sided, i.e. we bought some food products in China,” he said. “This cooperation is not only that it has become a two-way street, so still very significantly increased”, – said Denisov.

“We supply to China various kinds of grains, cereals, vegetable oil, meat products. Now intense negotiations are about creating conditions for the expansion of our supplies of meat products to the Chinese market”, – the diplomat added.

Russia – the strengthening of the innovation component in cooperation

“What we would like is to increase the innovative component in our cooperation”, – said Denisov. According to him, currently “such conditions are created”. “Might be slower than we would like, but, nevertheless, there is a promotion,” added the Ambassador. In particular, in the fields of space technology, atomic energy, communications and Informatics, Moscow and Beijing “have a good backlog and have some experience, which allows this collaboration to develop”.

Read more in an interview