Natural resources prevail in Russian exports to China - diplomat
MOSCOW/BEIJING. March 19 (Interfax) - The structure of Russian exports to China did not change in 2014 and natural resources continued to prevail, Zhang Di, Minister Counselor at the Chinese Embassy in Russia dealing with economic issues, told Interfax.
He said there had been no serious change and natural resources - crude oil, iron ore and others - amounted to approximately 70% of Russian exports to China. High-tech and chemical products constituted 30% of Russian exports. The problem remained although both countries had been trying to resolve it, the diplomat remarked.
According to Chinese customs statistical reports, approximately 50% of Chinese exports to Russia were from machines and equipment.
Russia needs to transform its economic structure in order to improve trade quality and stabilize commerce, Zhang opined. He said it would be wrong to focus on oil, moreover as Russia was unable to control global oil prices.
China has noticed that the Russian administration understands the problem and is trying to reduce its dependence on oil exports, he said.
China and Russia have been actively discussing the delivery of Chinese agricultural products, the diplomat continued. China is already supplying fruit and vegetables to the Russian Far East and westbound delivery options are under consideration.
Another important item on the bilateral agenda is the resumption of Chinese meat supplies banned ten years ago, he said. An agreement to reach the embargo was basically reached in the end of last year, and relevant agencies, among them Rosselkhoznadzor, are working out a solution, Zhang said.
