OREANDA-NEWS. China and Russia set a goal by 2024 to increase trade to $ 200 billion. This was announced to reporters by the new Chinese Ambassador to the Russian Federation, Zhang Hanhui, on Wednesday. "We have already set a new indicator, a new goal. By 2024, we will achieve a turnover of $ 200 billion. I think this goal is feasible, because from now on, trade and economic cooperation is developing at an accelerated pace", he said.

"All potential has already been identified. Almost all the obstacles that impede the development of trade and economic cooperation have been eliminated. We will resolve some of the problems that exist", the diplomat said. According to the Main Customs Administration of China, the trade turnover between Russia and China over the seven months of this year increased by 4.7% year on year, to $ 61.13 billion.

The growth trend of this indicator was outlined in 2016, when the turnover increased by 2.2% year-on-year and reached $ 69.52 billion. In 2017, this figure increased to $ 84.07 billion, and in 2018 exceeded $ 107 billion.

Russia and China will continue to develop cooperation in science, technology and innovation, Zhang Hanhui said. The diplomat emphasized that innovation is a very important aspect of cooperation between the two countries. "We need to work together, we will create our own school of innovation and scientific and technological development. We can do this, we have such opportunities", said Zhang Hanhui. He added that China, together with its Russian colleagues, will study new initiatives in this area and "jointly create a new format for scientific and technical research".

In addition, there is great potential for increasing Russian gas exports to China, Zhang Hanhui said. He noted that gas demand in the Chinese market is growing. "We buy most of the gas, except Russia, from Qatar, Australia, and Central Asia. We, of course, also produce it ourselves. But this doesn't completely cover the demand of the Chinese market", the diplomat said.