World Bank – Impact of China and India on Russia’s Economy

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india_russia_china_flagThe World Bank has issued a report about the impact China and India will have on Russia, which is of special interest as both countries are currently negotiating Free Trade Agreements with the Eurasian Economic Union. The 23 minute radio broadcast and transcript of summary can be found on Sputnik Radio here.

Chris Devonshire-Ellis of Dezan Shira & Associates comments “The new trade corridors between China and Russia and India and Russia are going to be highly influential. The EAEU Free Trade Agreement negotiations with China  and India are expected to be concluded in the next few months and these will both considerably enhance trade ties between EAEU nations and especially Russia with both countries. The growing awareness is that it is Eurasian trade that is going to be a major global driver. This will be especially true if the United States and China slip into a Trade War.”

Bilateral trade between Russia and China has been growing at about 30 percent this year; with trade deals covering a wide array of industries including joint development of aircrafthigh speed freight railjoint consumer financial servicesand e-commerce platformsThe development of the Primorye-1 Corridor between the two countries will also significantly help open up China’s Heilongjiang Province to markets both in Russia the Asia Pacific region.

On top of this, China, India, and Russia are all members of the BRICS trade bloc as well as full members of the Shanghai Co-Operation Organisation.

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One response to “World Bank – Impact of China and India on Russia’s Economy”

  1. Andrew says:

    Great news, China, India, and Russia union has great potential.

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