21:35 GMT +322 September 2019
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    Arkady Dvorkovich, Deputy Prime Minister of the Russian Federation, speaks during the Asian Financial Forum in Hong Kong, China January 18, 2016

    Russia-China Trade Turnover Not to Reach $200Bln by 2020

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    Russian Deputy Prime Minister Arkady Dvorkovich said that Russia is unable to reach the $200 billion trade turnover with China by 2020 due to changes in the trade conditions.

    HONG KONG (Sputnik) — Russia will not be able to increase trade turnover with China to $200 billion by 2020, but Moscow will continue to pursue this goal, Russian Deputy Prime Minister Arkady Dvorkovich said Monday.

    "Our presidents agreed that the bilateral trade turnover must reach $200 billion by 2020. We understand, that we are yet unable to reach this level as oil prices have fallen and the trade conditions have changed. But we are still keeping this goal, we need to do that," Dvorkovich said, speaking at the Asia Society forum in Hong Kong.

    Russian President Vladimir Putin said during his visit to China in 2014 that Moscow and Beijing planned to increase the bilateral trade turnover up to $200 billion by 2020.

    Earlier in January, Russian Economic Development Minister Alexei Ulyukayev said this goal would need time correction, but it was still on the agenda.

    According to reports, citing Chinese Customs Department spokesman Huang Songping, trade turnover between China and Russia dropped by 27.8 percent to $64.2 billion in 2015.

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    Arkady Dvorkovich, China, Russia
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