Russia to have MFN treatment in trade with China

Published : 16 Jun 2019 06:55 PM | Updated : 06 Sep 2020 06:10 AM

Russia hopes restrictions in trade with China will be gradually lifted and the most favorable nation status will be obtained,
business ombudsman Boris Titov said on the sidelines of the VI Russia-China EXPO in Harbin.

“We are not using yet the regime of certain bilateral agreements of China with other countries, where highly beneficial treatment is provided,” Titov said, agency reports.

“We hope therefore that conditions we will improve later on will also be the most preferential, that is, Russia and China will have the most preferential treatment for each other in trade,” he noted.

“We believe there are no grounds for limiting sales [of Russian products – TASS] in China and hope these restrictions will be lifted, Titov added.

Russian foods enjoy continuously growing demand in China, Titov said. “Trade relations are developing. Deliveries of food products from Russia to China are growing,” Titov said.

China steadily holds the position of the leading foreign trade partner of Russia, the business ombudsman said. “Trade turnover grew by a quarter last year, surpassing the level of $100 bln. About 30 major investment projects totaling $22 bln are implemented with participation of Chinese partners and the Chinese capital – this are mainly large-scale projects in energy, metals, finance and transport area,” Titov added.

The VI Russia-China EXPO is held from June 14 to 19. Over 1,300 companies from 74 countries and regions of the world applied for participation in the exhibition this year. Russia is represented by 137 companies from 18 constituencies of five federal districts.