On August 27, the Russian-Asian Union of Industrialists and Entrepreneurs (RAUIE) organized an online meeting of the Union members with the Plenipotentiary Minister and Adviser for Trade and Economic Affairs of the PRC Embassy Li Jingyuan, discussing current trends and problems of Russian-Chinese trade. As a result of the event, the RAUIE highlighted the main problems of Russian businessmen working with China or wishing to establish such work. An event summary will be sent to the Ministry of Industry and Trade, the Ministry of Foreign Affairs and the Ministry of Economic Development in order to develop systemic solutions to these problems.
Mr. Li Jingyuan noted that over the past 2 years, the governments of our countries have signed a huge number of cooperation agreements, including the Agreement on Trade Cooperation between China and the Eurasian Economic Union. It is worth noting the creation of joint projects for agriculture development in the Far East. The trade representative of the PRC paid special attention to trade development in the field of agriculture, and also recommended that Russian entrepreneurs participate in the III International Import Expo in Shanghai in November.
President of the Russian Union of Industrialists and Entrepreneurs Vitaly Mankevich also made a welcoming speech. He noted that the current pandemic led to a trade turnover decrease from January to July 2020 by 4.3% to $ 58.83 billion. At the same time, since July, the indicators begin to improve, and the export of Russian agricultural products in H1 2020 increased by 35% and amounted to $ 1.9 billion.
"The RAUIE helps Russian and Chinese entrepreneurs find new partners, develop exports to China. In order to provide broader assistance to the business community, we decided to create an All-Russian public organization," said Mankevich.
The RAUIE member companies spoke about their experience in entering the PRC market and the problems they faced, among them Chernogolovka - the leader of Russian soft drinks exports, also Volshebnitsa - a confectionery manufacturer, Alkovorld - an exporter alcoholic beverages, "National Geonedra" - institute and geo-prospecting company, River group LLC - a representative of construction engineering services.
The participants named the main problems of entering South China's markets, finding large distributors, the problem of opening accounts for Russian companies in Hong Kong banks, as well as certification of certain product categories, the problem of collecting debts from Chinese counterparties and their verification.
Based on the results of the event, the RAUIE will form a Protocol that will be sent to the Trade Mission of the PRC in the Russian Federation, the Trade Representation of the Russian Federation in the PRC, the Ministry of Foreign Affairs, the Ministry of Industry and Trade in order to develop effective system solutions aimed at the mutual removal of trade barriers and development of bilateral trade.
The recording of the event is available at the link: https://yadi.sk/i/VoeWF4vuLYgBKQ
Chinese Trade Representative held a meeting with Russian exporters of goods and services
10 September 2020
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