Lavrov: Russia, China to boost trade turnover to $200 billion by 2020

Tue 31 May 2016 03:45 GMT | 07:45 Local Time

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Russia-China relations, which are now the best in history, in essence, serve as an example of interstate cooperation in the 21st century, says Lavrov.

Russia and China plan to increase the volume of trade turnover to $200 billion by 2020, Russian Foreign Minister Sergey Lavrov said on Tuesday, according to TASS.

"China is Russia’s key economic partner," Lavrov said at the international conference "Russia and China: to the new quality of bilateral relations."

"Reaching a trade turnover of $200 billion by 2020 is on the agenda," he added noting that "this aim is rather achievable."

"The main precondition for success is switching to the new model of economic cooperation which would rely on closer production chains and investment ties," the minister said.

"We hope to deepen cooperation between banking institutions of Russia and China, such as the Asian Infrastructure Investment Bank, BRICS New Development Bank and Eurasian Development Bank," he concluded.
Russia-China relations

The current relations between Russia and China serve as an example of cooperation between two states in the 21st century, the minister added.

"Relations between our states, which are now the best in history, in essence, serve as an example of interstate cooperation in the 21st century," he said.

According to him, in bilateral relations "there should be no hushing up of various issues that so far have not been settled by consensus, but should be an honest and friendly exchange of opinions."

News.Az

 

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