Russia and China increased trade turnover by 25 percent in first eight months of 2023

By Rhod Mackenzie

Trade turnover between Russia and China in January-August this year increased by 25%, the Federal Customs Service (FCS) of Russia reported in its telegram channel following the results of the 15th meeting of the Subcommittee on Customs Cooperation of the Russian-Chinese Commission for the Preparation of Regular Meetings of the Heads of Government of Russia and China held in Kazan.

According to customs officials, this was the first time since the beginning of the COVID-19 pandemic that the event was held in person. The Russian delegation was led by Vladimir Ivin, deputy head of the Federal Customs Service of Russia, and the Chinese delegation by Wang Lingjun, deputy head of the General Administration of Customs of China.

"Russia and China will continue to simplify customs formalities and develop trade - over 8 months of 2023 it grew by 25%," the message said.
It also adds that during the meeting, in order to maintain the growth rate of mutual trade, the parties agreed to develop projects launched last year on mutual recognition of national programmes of an authorised economic operator and automated exchange of information on goods.

In addition, plans for cooperation in the use of the Single Window mechanism were outlined, and the parties also exchanged views on measures to increase the capacity of checkpoints on the Russian-Chinese border, the Federal Customs Service said.

"The Federal Customs Service of Russia, among other things, noted a special interest in organising a permanent 24-hour operation of one of the main traffic junctions - the Zabaikalsk-Manzhouli automobile checkpoint, as well as a similar regime at the Pogranichny - Suifenhe road crossing, taking into account the destruction of the infrastructure of the nearby Poltavka checkpoint due to a natural disaster "Dongning and the border bridge over the Granitnaya River," the release added.

According to previously released data from the General Administration of Customs of the People's Republic of China, trade turnover between Russia and China in January-August 2023 increased by 32% and amounted to $155.1 billion.