Xi and Putin Have An Easy Trade Target, If Oil Cooperates — Panjiva


Xi and Putin Have An Easy Trade Target, If Oil Cooperates

Ags - Forestry 99 China 1761 Energy - Conventional 274 Energy - Crude Oil 196 Russia 69 Trade Deals 703

President Xi and President Putin have agreed to boost economic cooperation and use local currencies in regional trade. They have committed to boosting bilateral trade between the two countries to $100 billion in 2018, which looks achievable given trade in the 12 months to August 31 reached $98 billion after year-to-date imports rose 44% and exports climbed 13%. The rise in imports though has likely been driven by commodity prices given that, in 2017, crude oil accounted for 59% of China’s imports from Russia followed by forestry products and coal.

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