Trade between Russia, China to reach $70 billion this year

Trade between Russia and China is recovering after the global economic crisis and may hit $70 billion this year, Russian Prime Minister Vladimir Putin said at a meeting with China’s top legislator on Wednesday.

“The growth is significant. If the trend continues, our trade may reach some $70 billion this year, $100 billion in 2015 and $200 billion by 2020,” Putin said during a meeting with Chairman of the Standing Committee of China’s National People’s Congress (NPC) Wu Bangguo.

Bangguo said Russia’s role in global politics and economy was growing.

“You have recently set a new task – to make Russia one of the world’s top five economies by 2020, on the basis of its energy sphere and innovations,” he said.

“I’m sure that Russia will definitely attain those goals and I would like to assure you that Russia’s success is in our interest, it would also contribute to building a multi-polar world and bringing more democracy into international relations.”

During the meeting, Bangguo invited Putin to visit China, and the Russian premier accepted the invitation, saying he would visit the country in October.

This year Russia and China mark the tenth anniversary of the signing of a bilateral friendship treaty.

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