Russia-China Trade Office: “Russian Businesses Should Use Online Trade Platforms To Access China Buyers”
Online trade platforms will enable Russian companies to boost exports and expand presence on the Chinese market, Trade Representative of the Russian Federation in the People’s Republic of China, Sergey Iniushin stated yesterday.
“Russia’s small and mid-sized businesses should not individually fight their way to the Chinese market. Future expansion of Russia’s presence on the Chinese market will take place via large e-commerce operators that provide logistics support for Russian sales to Chinese buyers.
The Russian Trade Representative Office keeps in close touch with Alibaba and sees that the cooperation has good future prospects.” he said. “The issue is about large market participants that know how to quickly deliver goods to consumers. They are familiar with the habits of the Chinese consumer,” he said, adding that the mission “focuses much on that area, encouraging Chinese operators to supply not only from the People’s Republic of China, but in the opposite direction as well.”
Amid this background, the issue of creating “a full-fledged Russian bank” in China is becoming increasingly relevant, Iniushin said. “When we speak about the targeted trade turnover of US$200 billion, the necessity to establish in the People’s Republic of China our own banking structure able to solve problems related to mutual settlements arises. A Russian bank like that will also have the functions of providing support to clients, it will help the participants of international economic activities.” he noted.
Dezan Shira & Associates, can provide Russian manufacturers with assistance in developing a strategy for Russian companies wishing to sell products online to China. Please contact Maria Kotova at russia@dezshira.com. The company has been in the China market for 27 years and has 14 offices assisting investors into China.
Related Reading
- Russia-China Bilateral Trade Hit US$110 Billion in 2019 – What Is China Buying?
- China’s New e-Commerce Law: Businesses Should Ready for Stronger Compliance Norms
- Cross Border e-Commerce in China: Regulatory Updates and Trends
About Us
During these uncertain times, we must stress that our firm does not approve of the Ukraine conflict. We do not entertain business with sanctioned Russian companies or individuals. However, we are well aware of the new emerging supply chains, can advise on strategic analysis and new logistics corridors, and may assist in non-sanctioned areas. We can help, for example, Russian companies develop operations throughout Asia, including banking advisory services, and trade compliance issues, and have done since 1992.
We also provide financial and sanctions compliance services to foreign companies wishing to access Russia. Additionally, we offer market research and advisory services to foreign exporters interested in accessing Russia as the economy looks to replace Western-sourced products. For assistance, please email russia@dezshira.com or visit www.dezshira.com
