Russian Prime Minister Mikhail Mishustin is visiting China from December 19 to 20 to participate in the 28th regular meeting between Chinese and Russian heads of government alongside his Chinese counterpart, Premier Li Qiang. This high-level meeting comes as both nations celebrate a year of unprecedented bilateral trade growth and aim to chart a strategic plan for the coming year.
This year, China and Russia achieved significant milestones in their economic partnership. Russian President Vladimir Putin recently announced that the bilateral trade goal of $200 billion set for next year has already been surpassed, with figures expected to reach $220–230 billion by the end of this year. “We will do the calculations in the first quarter, and I think we will have $220–230 billion,” Putin said. “This is a very decent level. Last year, we achieved a 31 percent increase in trade, and we will see a 30 percent increase this year.”
Russian First Deputy Prime Minister Andrey Belousov has set an ambitious target of $300 billion in bilateral trade by 2030. Energy exports have been a key driver of this growth, with Russia becoming China’s largest oil and gas supplier this year. The significant increase is attributed to a mega gas deal reached in October during the Third Belt and Road Forum for International Cooperation, increased oil supplies, and ongoing negotiations over the Power of Siberia 2 pipeline project.
The discussions between Prime Minister Mishustin and Premier Li are expected to focus not only on energy but also on enhancing connectivity, logistics, and real-sector trade. Deputy Foreign Minister Andrey Rudenko emphasized Russia’s vision of a Greater Eurasian Partnership, aiming to connect the Eurasian Economic Union with China’s Belt and Road Initiative (BRI). This strategic alignment seeks to bolster regional cooperation and foster economic development across Eurasia.
The meeting underscores the deepening ties between China and Russia, as both nations navigate a complex global landscape. Strengthening their partnership is seen as mutually beneficial, offering opportunities for economic growth, regional stability, and a counterbalance to shifting international dynamics.
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The Russian PM's visit to China will chart the next year's plans
cgtn.com
