BRICS mechanism to further boost trade cooperation between China, Russia: experts

China has become the largest trade partner and a significant source country of foreign capital for Russia, while Russia is one of the main providers for resources, mechanical, electrical and other high-tech products. 

Experts say cooperation under the BRICS umbrella will further boost trade between China and Russia 

CRI's Yu Yang has the story.

According to data released by China's General Administration of Customs, the bilateral trade volume between China and Russia reached nearly 33 billion U.S. dollars in the first five months this year, growing 33.7 percent year on year.

Li Yi, the principal expert of an e-commerce project focused on small and medium enterprises from the BRICS nations, says the two countries each have unique traits and can help each other. 

"China and Russia are complementary. China is superior in light industry and consumer electronics, while Russia has advantages in agricultural products and many natural resources," said Li Yi.

Among the bilateral trade, the e-commerce is gaining more momentum. 

Data from Russian Association of Internet Trade Companies indicates that the cross-border trade volume between China and Russia surpassed 2.5 billion U.S. dollars last year, and the main e-commerce platforms in Russia are all from China. 

Vladimir Padalko, vice president with the Chamber of Commerce and Industry of the Russian Federation, says e-commerce will become an impetus for Russia's economy.

"The two countries' economical trade contact mainly relies on raw materials. We think we have to get rid of the dilemma as soon as possible. We could use e-commerce which has a bright future to break away from the initial stage of trade that focuses more on raw materials export. In the near future, e-commerce will replace oil and raw materials to become an impetus for Russia's economy," said Padalko.

Li Hui, Chinese Ambassador to Russia, says BRICS will play a more important role against the background of a complex international situation and the sluggish international economy. 

"BRICS countries play a leading role in major cooperation among emerging economies and developing countries and BRICS is a significant cooperative platform. China and Russia play a guiding role within the framework of BRICS. The current international situation is complex and fluctuating, and the international economy is sluggish. BRICS will surely play an important role against such a background," said Li Hui. 

The 9th BRICS Summit is scheduled to be held in Xiamen City of Fujian Province from Sept 3 to 5.