SINO-RUSSIAN TRADE AND ECONOMIC COOPERATION: PROBLEMS AND PROSPECTS
A.V. Ostrovskii
Centre for Social and Economic Development of China, Institute of Far Eastern Studies, Russian Academy of Sciences, Moscow, Russia
Keywords: Russia, China, trade and economic relations, Sino-Russian cooperation, trade turnover, investment cooperation, the Belt and Road Initiative
Abstract
Despite Sino-Russian cooperation developing fast universally in the 21st century, the level of trade and economic cooperation does not correspond with that of the other spheres. The initial goal was to reach trade turnover at 100 billion USD by 2015 and 200 billion USD by 2020. Till now, both sides have failed to achieve this for the following trends prevail in Russia: simple trade, low level of investment and inter-banking relations, as well as poor international trade-related infrastructure. The article describes the current situation in Sino-Russian trade and economic cooperation and proposes improvement measures.
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