Karelia increased the trade turnover with the People's Republic of China

Within the framework of the economic forum "Karelia 20/24", the prospects for cooperation were discussed by the head of the region Artur Parfenchikov and the Consul General of the People's Republic of China in St. Petersburg Luo Zhanhui.

At the meeting with the Consul General of the People's Republic of China in St. Petersburg Luo Zhanhui, the Head of Karelia Artur Parfenchikov emphasized that Karelia and the People's Republic of China have long-standing friendly relations built on achieving specific results, such as development of mutually beneficial trade and economic ties and expansion of the sales markets. In particular, the head of the region noted that Chinese business representatives successfully took part in the International Forum and Exhibition of the Natural Stone Industry "Karelforum" in 2024.

During the meeting, the parties emphasized the importance of further expansion of economic cooperation, cultural, scientific, educational and tourist exchanges.

– The Republic of Karelia is open to intensifying mutually beneficial cooperation with the People’s Republic of China, implementing joint projects in the trade, economic as well as humanitarian spheres, aimed at strengthening interaction between our countries, – said Artur Parfenchikov.

The Consul General of the People's Republic of China in St. Petersburg Luo Zhanhui thanked the Head of Karelia for creation of the favorable mutually beneficial working conditions.

– Our main task is to find opportunities to deepen the cooperation, – said Luo Zhanhui. – Right now, it is at its historical peak. On behalf of our Consulate General, we assure that the Chinese market will be increasingly open to Karelia.

It should be noted that in 2023, Karelia’s foreign trade turnover with China amounted to more than 333 million US dollars, it increased by almost 20%. The exports continue to grow, the increase is by 17.2% (almost 315 million US dollars), the share of imports increased by 85%, up to 19 million US dollars.

Let us recall that in December 2023, a business mission of the Karelian enterprises to China took place. The purpose of the event was to find potential counterparties and establish long-term contacts with foreign partners. During the visit, the investment and export potential of the Republic of Karelia was presented at the business forum in Shanghai.

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