Moscow: Trade relations between Russia and China have reached new heights, marking a significant realignment in global commerce. According to Russian Ambassador to China Igor Morgulov, bilateral trade has grown by 67% over the past three years, driven by mutual economic cooperation and a shift away from Western markets.
Morgulov noted that when many Western companies withdrew from Russia, Chinese businesses quickly stepped in, supplying essential goods in substantial volumes. Russian exporters, in turn, successfully redirected their trade flows to China, bolstering their presence in the Chinese market.
Official data from China’s General Administration of Customs supports this trend. In 2024, trade between the two nations rose by 1.9% compared to 2023, reaching a historic $244.8 billion. Analysts suggest this growing partnership reflects a broader geopolitical and economic pivot, as both countries strengthen their ties amidst global tensions with Western powers.
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