Translartion. Region: Russians Fedetion –
Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.
On March 27–28, Deputy Prime Minister of the Russian Federation Alexey Overchuk paid a working visit to the People’s Republic of China (Hainan Island), heading the Russian delegation at the annual Boao Forum for Asia.
During his speech at the session “Creating favorable conditions for peaceful development and ensuring overall economic security,” the Deputy Prime Minister spoke in detail about the creation of international partnerships aimed at forming a reliable basis for sustainable economic growth in the Eurasian region, including the construction of transport and logistics systems and an independent payment infrastructure.
Alexey Overchuk spoke about the initiative of the Greater Eurasian Partnership, put forward by Russian President Vladimir Putin, which implies the interconnectedness of the economies of Eurasia and is based on the idea of economic security and integration.
The Deputy Prime Minister noted that the Northern Eurasia macro-region serves as an example of multi-level economic integration, where such associations as the Union State of Russia and Belarus, the Eurasian Economic Union, and the Commonwealth of Independent States operate.
At the same time, in Asia there is the Chinese initiative “One Belt, One Road”, ASEAN, the Organization of the Gulf States and other organizations that unite the countries and regions of the global South. Many countries of Asia and Eurasia, including the three largest economies of the continent – China, India and Russia, participate in the Shanghai Cooperation Organization and BRICS. Russia and China are also members of APEC.
The Deputy Prime Minister stressed that the unification of these multilateral efforts will lead to the creation of the impetus needed to build a more sustainable future and socio-economic progress, develop and implement new technologies, increase economic connectivity, and strengthen intercultural communication in Eurasia.
During the visit, the Deputy Prime Minister held talks with Vice Premier of the State Council of the People’s Republic of China Ding Xuexiang. During the conversation, it was noted that further development of strategic partnership in all sectors of the economy meets the interests of both countries. The trusting dialogue between the leaders of the two countries, Vladimir Putin and Xi Jinping, plays a decisive role in the development of Russian-Chinese cooperation. Mutual high-level visits are planned for the spring-autumn of 2025, timed to coincide with the celebrations of the 80th anniversary of Victory in World War II.
Alexey Overchuk emphasized that Russia is ready to jointly implement the agreements reached by the heads of the two states and continuously deepen Russian-Chinese relations of comprehensive partnership and strategic interaction.
“Russia and China need to expand trade relations, scientific and technical cooperation, and create new production and cooperation chains,” said the Deputy Prime Minister.
During the talks, it was noted that China remains Russia’s main foreign trade partner. By the end of 2024, mutual trade approached the $245 billion mark. Over 95% of bilateral settlements are conducted in rubles and yuan.
The parties are implementing joint projects in industry, energy, high technology, space, transport, automotive engineering and other sectors.
Cultural and humanitarian ties are actively developing. The countries’ mutual interest in each other’s history, culture and traditions is high and continues to grow. The cross-cultural years of Russia and China are being held successfully, more than half of the 230 events of the Russian part have been held.
Alexey Overchuk also invited representatives of the leadership and business community of the PRC to take part in international economic forums held in Russia – the St. Petersburg International Economic Forum in June and the Eastern Economic Forum in Vladivostok in September 2025.
Vice Premier of the State Council of the People’s Republic of China Ding Xuexiang stressed that relations between China and Russia have become a model of cooperation between major neighboring powers, stating that Beijing, together with Moscow, is ready, in line with the important agreements reached by the heads of state of the two countries, to deepen political contacts and strengthen practical cooperation for the benefit of the peoples of the two countries.
On the sidelines of the forum, Alexey Overchuk held talks with the Chairman of the Provisional Government of the People’s Republic of Bangladesh Muhammad Yunus. During the meeting, it was noted that the countries are striving to strengthen friendly relations and develop trade and economic ties on a mutually beneficial basis. According to the results of 2024, mutual trade between Russia and Bangladesh amounted to 2.66 billion dollars.
The parties discussed issues of cooperation in the fields of industry, energy, food security, and the cultural and humanitarian sphere. The Deputy Prime Minister noted the need to continue work to expand the regulatory framework for bilateral cooperation, emphasizing the importance of activating the format of the Russian-Bangladesh Intergovernmental Commission on Trade, Economic, Scientific and Technical Cooperation for the development of bilateral relations.
During the Russian-Pakistani meeting, which also took place on the sidelines of the forum, Deputy Prime Minister Alexey Overchuk and Minister of Finance of the Islamic Republic of Pakistan Muhammad Aurangzeb considered priority issues on the bilateral agenda, including cooperation in energy and food security.
The parties noted the active development of Russian-Pakistani cooperation. In 2024, a series of mutual visits took place between governments and parliaments.
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