Moscow and Beijing have almost fully abandoned the dollar in bilateral settlements, Russian Prime Minister Mikhail Mishustin said.
“Mutual trade has increased by almost one-third since the beginning of the year. Meanwhile, most payments, over 90 percent, are made in national currencies, which shows the almost complete de-dollarization of economic ties,” Mishustin said at the 28th regular meeting of heads of the two countries‘governments in Beijing.
Russia and China fulfilled the task set by the presidents of the two countries to bring the bilateral trade turnover to 200 billion dollars before the deadline, the Russian Prime Minister pointed out.
Russian Economic Development Minister Maksim Reshetnikov told reporters in Beijing that Russia will increase exports of agricultural products to China by 2030.
“First, we plan to dynamically boost the turnover of trade in agriculture products in the future,” he said, adding that Beijing has allowed pork deliveries from Russia.
Moreover, Reshetnikov expects deliveries to begin by the end of next year. He also noted the huge potential of the Chinese market and the excess capacity of Russian pork producers.
The Minister of Finance of Russia, Anton Siluanov, called agriculture supplies the driver for the extension of trade ties with China. He also noted Moscow’s possibilities on grain supplies from Siberia and soybean deliveries from the Far East to China, Biznis Info writes.
E.Dz.
