China-Russia trade expects to surpass $40 bln this year
Source: Xinhua Date: 2007-09-03
Trade between China and Russia is expected to surpass 40 billion U.S. dollars this year, after it reached a record high of 33.4 billion dollars last year, Chinese Vice Minister of Commerce Wei Jianguo said here on Sunday.
"The two-way trade has kept increasing since 1999, with an average annual growth of 28.6 percent," Wei told an opening ceremony of the 3rd Northeast Asia Investment and Trade Expo opened on Sunday in Changchun, capital of northeast China's Jilin Province.
The China-Russia trade had reached 25 billion dollars in the first seven months, he said.
"Meanwhile, the border trade has become an important part of the bilateral trade," he said.
Statistics show that the border trade between the two countries stood at 7 billion dollars last year and reached 4.6 billion during the Jan.-July period this year.
Currently, China is Russia's third largest trading partner, while Russia is China's eight largest trading partner.
The expo, with the theme of "opportunity, exchange, cooperation and development", attracted more than 50,000 investors and merchants from 61 countries and regions.
