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Russia to Enhance Cooperation with China and India

Russia-to-enhance-cooperation-with-the-Far-EastRussia has good economic ties with Asian countries, however the government wants to further increase cooperation with two of the largest countries in the Far East. These two countries are China and India. Foreign investors who want to trading companies in this country should know that Russia already has good relations with China which are expected to improve in the next year. Our lawyers in Russia can assist with the registration of a trading company.

Russia’s trade turnover with China could surpass 80 billion USD by the end of the year

The current trade relations between Russia and China have increased considerably this year, the first seven months of 2017 bringing a 30% increase in incomes for companies in both countries, 46,86 billion USD in numbers. Russia exported goods worth 23,43 billion USD to China, 29.5% more than in the previous year.

If these relations will be maintained at the same level, the turnover between the two states are expected to reach more than 80 billion USD by the end of December.

The possibility for this number to become true is quite high as Russia signed an agreement with China through which several companies in agriculture in Russia will start delivering pork and poultry to China by the end of the year.

India is the other country Russia wants to enhance cooperation with

If trade relations with China were already good, only a few Russian regions had developed economic relations with India which is why during the Eastern Economic Forum (EEF) 2017, representatives of two countries have started discussing the opportunity of expanding this cooperation at national levels for both states.

Among the industries the two countries could cooperate in, the pharmaceutical, the food and beverages one, the medical tourism and ecology are just a few of them. These industries are quite important for small and medium-sized enterprises in Russia and India.

On a larger scale, projects in the fishing, forestry, shipbuilding, geological and minerals exploitation and processing could be discussed. The oil and gas industry could also weigh a lot in future bilateral relations between Russia and India.

If you are interested in starting a business in any of the industries above, our Russian lawyers can help you, so do not hesitate to contact us.

 

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