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China to Expand Agricultural Trade with Russia

21 August 2014

CHINA - China is to work with Russia to expand two-way agricultural produce trade according to a Ministry of Commerce spokesman.

Last year, Chinese companies exported $2.1 billion worth of agricultural produce to Russia.

Shen Danyang, the spokesman, made the comments at a regular press conference when asked about Russia's decision to restrict food imports from the United States and the European Union and increase trade with China.

Based on the China-Russia all-round partnership of strategic cooperation, China is willing to boost economic and trade relations with Russia, and will continue to create conditions for bilateral cooperation in the energy, agriculture, infrastructure and high-tech sectors, he said.

Shen said China's agricultural exporters choose export destinations based on market information, so it is normal commercial behaviour for them to expand exports to Russia and arrange other business.

Agricultural produce trade between the two neighbouring countries has a unique edge and growth potential, he said, adding that the Chinese side will encourage both Chinese and Russian companies to increase agricultural produce trade.

Russia is a major trade partner of China. In the first seven months of 2014, bilateral trade grew by four per cent year on year to $53 billion, according to the Chinese customs data.

TheSheepSite News Desk



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