Zibo hosts Russia-Zibo economic, trade conference

The Russia-Zibo Economic and Trade Discussion Conference was held in Zibo city in East China's Shandong province on Aug 5 with the aim of strengthening bilateral cooperation between Zibo and the Republic of Buryatia, Russia.

The conference witnessed the signing of a strategic cooperation framework agreement between the export support center of Buryatia and the China Council for the Promotion of International Trade Zibo Committee.

The Russian delegation to the conference, which was made up of representatives from international trade and energy companies in Buryatia, had in-depth exchanges with key figures from Zibo's business community.

The conference covered a wide range of topics, including timber, large-scale international logistics transportation, coal, pharmaceuticals, food, and tourism. Forty-five companies from Zibo's light industry, pharmaceuticals, chemicals, heavy machinery, and other vital sectors participated in the conference.

According to Zibo Customs, Russia is the second-largest trading partner of the city. In 2022, the total import and export trade volume between Zibo and Russia grew 65.8 percent year-on-year to 15.85 billion yuan ($2.22 billion). Exports amounted to 2.54 billion yuan, while imports totaled 13.31 billion yuan.