Over 100 Russian Firms to Attend First China Import Expo - Russia's VEB.RF Corporation

MOSCOW (Pakistan Point News / Sputnik - 02nd November, 2018) More than 100 Russian companies are set to participate in the first China International Import Expo as part of a specially organized business mission, Russia's state-owned development corporation VEB.RF said in a press release on Friday.

The exposition will be held at the National Exhibition and Convention Center in the Chinese city of Shanghai on November 5-10. Russia will be attending the event as a guest of honor.

"A total of over 100 Russian companies will participate in the first China International Import Expo as part of a business mission timed to coincide with the [exposition]," the bank's press release, published on its official website, read.

According to the release, Russian companies will be represented in five sectors: services and consumer goods, food, agricultural products, medical equipment and goods, and high-tech equipment. The exhibition of Russian companies will be organized by the Russian Export Center (REC), whose only shareholder is VEB.

RF.

"Given the task to increase non-oil exports, we need not only to open new markets for our export, but to enhance the possibilities of scaling up exports to traditionally attractive and large markets like China. We expect China to maintain its positions as Russia's main trading partner. Starting from 2014, a positive dynamic in the increase in non-oil import of Russian goods in China has been registered," Director of the Russian Export Center Andrey Slepnev was quoted as saying by the release.

In 2017, trade between Russia and China amounted to almost $87 billion, which marked an over $20 billion increase compared to 2016, making China Russia's key trading partner along with the European Union, according to the Russian Federal Customs Service. While Russia exported almost $39 billion worth of goods to China in 2017, imports of Chinese goods amounted to $48 billion.