Ties with China in best shape: Russian entrepreneur

A leading Russian entrepreneur and business advocate is expressing optimism about the potential in trade and investment between China and Russia.

Stats suggest that as the China-Russia comprehensive strategic partnership continues to develop, so has trade between two countries.

In 2018, trade volume between the two countries exceeded 100 billion US dollars for the first time, with Russia recording the fastest rise in trading growth among China's top 10 trade partners.

Summer in Moscow, Russia. [Photo: Xinhua]

Russia's Presidential Commissioner for Entrepreneurs' Rights, Boris Titov, says there is still a lot of potential for the two sides to tap.

"The two sides have agreed to a goal of doubling trade volumes. I think it can be achieved in the next several years. Apart from trade, the two countries can also cooperate in investment. I hope that will be a new direction the two sides can work on."

Titov has also taken time to note the cooperation which continues to develop between China and Russia through the Belt and Road Initiative.

"Russia coordinates with China in big projects including infrastructure, agriculture, oil and natural gas. Right now, the two sides are also discussing how to increase cooperation in the Yamal liquefied natural gas project. We're also cooperating in research to develop both heavy helicopters and wide-body jets. In general, the scope of cooperation is very wide."

As the head of a Russia-China friendship organization, Titov is also an advocate for cooperation in areas such as culture, science and business.

He suggests an upcoming trade fair in Harbin should help spur cooperation, particularly for small and medium sized companies on either side of the border.

Harbin is the capital of Heilongjiang, China's northeasternmost province which borders Russia, making it the busiest link for both travellers and business going too and from China and Russia.

"At the small and medium sized enterprises forum, we will introduce new ways for businesses to better-navigate customs clearance for their goods, how to pay taxes, how to register locally and how to get government support and subsidies."

At this week's St. Petersburg International Economic Forum, participants are due to focus on key economic issues which emerging markets are facing right now.

Chinese President Xi Jinping is due to deliver a keynote speech to the opening of the annual Russian business forum.