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Russian-Chinese Foreign Trade Cooperation

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Abstract

The development of trade, economic and investment ties with the APR countries is one of the priorities of the foreign policy of the Russian Federation. China has traditionally been Russia’s leading foreign trade partner, and Russian-Chinese foreign trade cooperation has a positive dynamic of development. At the same time, despite the growth of foreign trade turnover between countries, export supplies of raw materials from Russia, as well as import of finished industrial products from China, prevail in the commodity structure of foreign trade turnover between countries, which makes it very vulnerable to external factors. The paper examines the main trends in Russia’s foreign trade with China in 2015-2019. Conclusions are made about the most promising areas of bilateral cooperation.

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... Yet, both countries seem largely forced to expand their mutual commercial and investment cooperation, as observed by Huasheng (2016) and Wilson (2016). Moreover, as Popkova and Sukhodolov (2017) stress, this may be a very important factor for Russia's economic growth in the medium term as the need for Russian goods to face competition in the Chinese market may stimulate efforts to increase their competitiveness and to diversify the goods structure of Russian exports to China. ...
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Research background: The position of a country in the international division of labour is determined by the competitiveness of its trade, the structure of which may both reveal and perpetuate the comparative advantages possessed. This is particularly true for Dutch disease economies such as Russia. Recently, economic literature has seen a growing interest in the topic of Russia’s economic relations with the European Union and China. This article is aimed at being the Author’s contribution to this discussion. Purposes of the article: (1) to discuss the existing trade interdependence between Russia and the EU28, and Russia and China; (2) to try to assess the extent to which the current structure of Russian trade with these two partners corresponds with the competitiveness of the Russian economy. Methods: An in-depth analysis of Russia-EU28 and Russia-China trade interdependencies in 2007-2015 has been conducted, with emphasis on the categories of goods within the spectrum from low- to high-technology, according to the OECD classification. Furthermore, in order to analyse Russia’s competitive profile with regard to the same categories of goods, Balassa’s methodology of revealed comparative advantages has been applied. Findings & Value added: In the recent years, a growing importance of China in Russian trade turnover can be observed, being the effect of dynamic growth of Chinese economy, cooling political relations between Moscow and Brussels and the drop in oil prices in international markets. The existing structure of Russian trade with the EU28 and China seems likely to preserve its traditional competitive advantages in the medium-low-technology goods and oil, which, in turn, will only further exacerbate the negative consequences of the so-called Dutch disease affecting the Russian economy.
Book
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This Open Access book analyses the emergence of Russia as a global food power and what it means for global food trade. Russia's strategy for food production and trade has changed significantly since the end of the Soviet period, and this is the first book to take account of Russia's rise as a food power and the global implications of that rise. It includes food trade policy and practice, and developments in regional food trade. This book will be of interest to academics and practitioners in agricultural economics, international trade, and international food trade. Stephen K. Wegren is Distinguished University Professor, Professor of Political Science at Southern Methodist University, USA, and Director of International and Area Studies, Southern Methodist University. Frode Nilssen is Professor at Nord University Business School, Norway, and the Head of Department for Marketing, Strategy and Management at Nord University Business School.
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As Russia’s agri-food exports have increased in recent years, the role of food exports has evolved from being negligible at the beginning of the 2000s to almost 30 percent of agricultural production in recent years. Agri-food exports account for a substantial amount of growth in the agricultural sector. The contribution of food exports to the national economy, however, is minor. Food exports’ net contribution to the national budget is about zero. Technical advances suggest that the role of agricultural exports in the national economy will keep gradually growing but will remain a secondary factor in national welfare.
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