Page 80 - RusRPTJul24

Minister Oksana Lut said TASS reported on June 28. "BRICS is one of the priority markets for Russia. Last year, the integration accounted for over one-third of Russian agricultural exports, totalling $15bn. Compared to 2022, in value terms, Russian exports to BRICS countries grew by 18%. Given the current dynamics, we foresee a substantial increase in supplies and expect their volume to exceed $16bn by the end of the year," Lut told reporters following a meeting of BRICS agriculture ministers. Year-to-date exports of agricultural products from Russia to BRICS countries have already exceeded $7bn, Lut added. The ministers' meeting focused on expanding cooperation and identifying new "growth areas," Lut noted. "We will continue doing everything to ensure the stability of the food market in BRICS countries, acting as a reliable supplier for our partners," she stressed.
Trade turnover between Russia and China rose by 2.9% in January-May y/y to $96.5bn, the General Administration of Customs of China reported. China’s exports to Russia amounted to $41.8bn in the reporting period, down by 1.8% y/y, while Russian supplies to the People’s Republic of China totaled $54.7bn, up by 6.9% in annual terms. In May, trade turnover between the two countries equaled $19.8bn, almost flat month-on-month, with Chinese exports totaling $9.1bn (up by 9% compared with April) while Russian deliveries to China reaching $10.7bn (down by 6% in monthly terms).
Putin said trade growth with Asian countries amounted to 60% in 2023. Russia's relations with the countries of Asia, Africa and Latin America are strengthening, Russian President Vladimir Putin said during a plenary session at the St. Petersburg International Economic Forum ( SPIEF ). “Our relations with Asian countries are strengthening - growth of 60% from 2020 to 2023. [With the countries of] the Middle East - double growth, Africa - 69%, Latin America - 42%,” he said.
Brazil hopes to reach $12bn in trade turnover with Russia, Ambassador of Brazil in Moscow Rodrigo de Lima Baena Soares said at the Russia-Brazil session within the framework of the St. Petersburg International Economic Forum (SPIEF). "Speaking about our bilateral trade, we have a very positive relationship and results. Our trade relationship is stronger than ever, it has crossed the $11bn mark. Starting from 2024, we have also set a new record and thanks to it we hope to cross the $12bn mark this year," he said.
Trade turnover between Russia and Indonesia at the end of 2023 amounted to around $4bn, Russia’s First Deputy Prime Minister Denis Manturov said.
Trade turnover between Russia and Pakistan exceeded $1bn in 2023, Russian Ambassador to Pakistan Albert Khorev said. "Russia and Pakistan have strong ties of friendship," he said, addressing a reception at the Russian embassy on the occasion of Russia Day. "I arrived in Pakistan six month ago, and I can already see the huge potential for deepening and strengthening our bilateral relations. Russia and Pakistan cooperate closely on various multilateral platforms, including the United Nations, the Shanghai Cooperation Organizations (SCO) and the Organisation of Islamic Cooperation (OIC). Our
80 RUSSIA Country Report July 2024 www.intellinews.com