Translation. Region: Russian Federal
Source: People’s Republic of China in Russian – People’s Republic of China in Russian –
Source: People’s Republic of China – State Council News
St. Petersburg, June 18 (Xinhua) — KIFA, a B2B digital trade platform operating in the Eurasian Economic Union (EAEU) and China, and the Russian Direct Investment Fund (RDIF), Russia’s sovereign wealth fund, have agreed to partner to jointly develop digital trade between China and Russia and further expand trade between the two countries.
The corresponding agreement was signed on Wednesday on the sidelines of the St. Petersburg International Economic Forum (SPIEF).
“In the new reality, high technology is becoming one of the key factors for success, and KIFA is proud of its contribution to the modernization of trade and economic relations between China and Russia. Trusting strategic cooperation with RDIF, in turn, will play one of the key roles in this process. Together we will be able to implement ambitious projects aimed at strengthening economic ties between our countries,” said Sun Tianshu, founder of the KIFA B2B platform and Chairman of the Board of Directors of KIFA PJSC.
“China is the leader in terms of trade turnover with Russia, and a stable system of mutual trade has been built between our countries, including in the field of e-commerce. RDIF is focused on supporting the entry of Russian and Chinese companies into the markets of the two countries, in this regard, the partnership with KIFA is an important stage in the development of digital cross-border trade. Providing entrepreneurs of the two countries with broad opportunities for simple and effective interaction in a digital environment with a transparent process at all stages and gaining access to new large markets will make a significant contribution to the further increase in bilateral trade volumes,” said RDIF CEO Kirill Dmitriev.
As noted, the development of digital trade between China and Russia and its modernization thanks to advanced tools and the use of artificial intelligence make it possible to achieve more transparent, efficient and convenient processes for each entrepreneur. The expansion of the range of goods and the reduction of costs, in turn, stimulate the growth of trade turnover between China and Russia, which is one of the strategic objectives of bilateral relations.
KIFA is a leading innovation platform that modernizes cross-border trade through the application of digital technology and artificial intelligence, and creates a new digital trading world between China and Russia. –0–