Russian and Chinese pharmaceutical companies are ready for greater cooperation

    “The direction on a strategic partnership between Russia and Chiba is not a temporary campaign but rather a policy that was precisely evaluated over the history of our cooperation. It is time to consider a more deep partnership in several erase such as education, science, and production of a globally competitive goods,” said ARPM Director General, Victor Dmitriev at the Russia- China Dialogue that took place at the Russian Chamber of Commerce.

Trade and economic relationships between the two countries have been developing over decades. Today the commodity turnover is over $68 billion of which $33 billion is the Russia’s export into China and $35 billion Chinese export into Russia.

    “The pharmaceutical commodity turnover reached $1.5 billion in 2015. Most of it

accounted for the import of pharmaceutical substances from China. However, the US Dollar still remains the single exchange currency between the two countries. It is time escape dependence on the US Dollar, especially after the new idea that the Chinese Yuan should become Russia’s reserve currency,” noted Mr. Dmitriev.

    The Chinese counterpart also tuned on the deeper level of interaction. Deputy chairman of the Association of Industrialists and traders in Heilongjiang Province, Chen Weiming noted the Summit Russia-ASEAN, the Innoprom exhibition and other events of the past months have proven that Russia is not only the closest neighbor, but also the main economic partner, and cooperation with Russia has a great potential.

    Chinese counterparts are confident that Russia and China have great potential to mutually fulfill each other’s markets. Russia produces a lot of raw materials and finished pharmaceutical products. Chinese manufacturers are interested in purchasing those products as well as Russian business is interested in Chinese goods, according to Deputy Chairman of the Pharmaceutical Chamber of the All-China Association of Industry and Commerce, Zhao Syan. It is important to work together to improve the logistics between the two countries and to broaden our import-export relationships.

The Russia delegates agreed with their Chinese counterparts and shared a confidence that the developed contacts will grow into mutually beneficial business agreements. 

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