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Russia predicts a rise in trade with China without US dollar

Beijing, May 23 (Prensa Latina) Russia's Prime Minister Mikhail Mishustin predicted in Shanghai on Tuesday an exponential growth of trade with China in 2023, accompanied by leading transformations and, above all, lower dependence on US dollar.

At the Russian-Chinese Business Forum, the visitor was confident that both countries would increase trade volume to 200 billion dollars, expand payments in national currencies, and thus move away from the US dollar and other Western currencies.

“While national currencies, in 2021, were used in a quarter of all transactions between our countries, it was already two-thirds last year. We will continue to enhance the independence of bilateral financial cooperation and thus strengthen our economic sovereignty,” the prime minister stated.

Regarding Russia’s plans to expand air links with China and develop other transport routes, Mishustin said such cooperation was vital “in the new geopolitical environment.”

The Prime Minister spoke of the existing potential for cooperation in information technology and cited ongoing bilateral projects to introduce digital solutions in several spheres of people’s lives.

He said that Russia would continue to strengthen ties with friendly nations targeted towards fast-growing markets, such as China. He also called on Beijing to work together for greater access to each other’s agricultural markets.

The economic forum in Shanghai kicked off Mishustin’s two-day visit to China, during which he will meet with his host Li Qiang to discuss in depth the state of bilateral relations and cooperation and issues of mutual interest for the two nations.


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