Despite the intimidation by some Western countries, trade between Russia and China will grow by about 25% by the end of 2022, and the $200 billion level will be reached ahead of schedule, Russian President Vladimir Putin said on Friday.
Russian-Chinese trade turnover will reach $200 billion “ahead of schedule,” President Vladimir Putin said during a videoconference with Chinese leader Xi Jinping on Friday as Moscow’s isolation from the West over its invasion of Ukraine continues to grow.
“Despite the unfavorable external conditions, illegitimate restrictions and direct intimidation by some countries of the West, Russia and China managed to secure record growth rates of mutual trade. By the end of the year, it will increase by 25%. Under such a dynamic, we will be able to reach the $200 billion target mark set by us for 2024 ahead of schedule,” Putin said during talks with Chinese President Xi Jinping via video link.
“Despite the unfavorable external environment, illegitimate restrictions, and direct blackmail by some Western countries, Russia and China have managed to ensure record-high growth rates of mutual trade turnover,” Putin said.
China is ready to build up strategic cooperation with Russia and be global partners for the benefit of the peoples of the two countries and in the interests of world stability against the backdrop of a difficult international situation, Chinese President Xi Jinping said.
"In the face of a difficult, far from unambiguous international situation, we are ready to build up strategic cooperation, provide each other with opportunities for development, be global partners for the benefit of the peoples of our countries and in the interests of stability throughout the world," Xi told Russian President Vladimir Putin during a video call, as broadcast by the Russian TV channel.
The leaders of Russia and China earlier set the goal to double bilateral trade, bringing it from $100 billion a year to $200 billion by 2024. The $100 billion mark was reached in 2018.
During Friday’s discussion, Putin told Xi that Moscow wanted to ramp up military cooperation with Beijing and invited him to make a state visit to Russia in the spring of 2023.
Putin is seeking to strengthen ties with Beijing and boost economic cooperation in the face of international condemnation and Western sanctions over his invasion of Ukraine.
Despite developing a tempestuous relationship during the Cold War, China and Russia have drawn progressively closer since the collapse of the Soviet Union and in recent years have acted jointly as a counterweight to the global dominance of the United States in what they term a "no-limits" relationship.
The two countries have also stepped up military cooperation, with China last month sending hundreds of troops to take part in military exercises in Russia's Far East.
Putin Invites Xi to Come to Moscow Next Year
Russian President Vladimir Putin said on Friday he had invited Chinese President Xi Jinping to come to Moscow next year.
"I have no doubt that we will find an opportunity to meet with you in person. We are waiting for you, dear Mr. Chairman, dear friend, we are waiting for you to come next spring with a state visit to Moscow," Putin told Xi during a video call.
This visit will demonstrate to the world the strength of Russian-Chinese ties on key issues and become the main political event of the year in bilateral relations, Putin added.
On December 30, Russian President Vladimir Putin discussed bilateral relations, regional problems, including those near Russian and Chinese borders with Chinese President Xi Jinping via video call.
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