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China and Russia Sign The Memorandum of Understanding on E-commerce Cooperation

On June 8, 2018, witnessed by Chinese President Xi Jinping and Russian President Putin, Minister of Commerce Zhong Shan and Russian Minister of Economic Development Maxim Oreshkin signed The Memorandum of Understanding on E-commerce Cooperation between the Ministry of Commerce of China and the Ministry of Economic Development of Russia in Beijing. According to the MOU, China and Russia will build the e-commerce cooperation mechanism to promote the e-commerce cooperation along the Belt and Road routes.

In recent years, the economic and trade relationship between China and Russia has remained stable and upbeat with many highlights generally speaking. . Under the strategic guidance of the leaders of the two countries, both sides will take the matchmaking cooperation between the Belt and Road construction and Eurasian Economic Union to make fruitful achievements in trade, investment, strategic projects and regional cooperation. At present, the China-Russia e-commerce trade has developed vigorously, and has gradually become the new growth point and highlight of bilateral economic and trade relationship that gets the high attention of leaders of both sides. This MOU on e-commerce cooperation has conformed to the new trend and development requirement of China-Russia economic and trade cooperation. Both sides will strengthen the exchanges and coordination of policies and regulations, launch staff training and joint studies, promote regional cooperation and the dialogues between the public and private sectors, and support the e-commerce cooperation between the two countries’ enterprises. Especially, we should promote the cross-border trade on featured products of high quality through e-commerce to provide more development chances and space for the two countries’ SMEs, thus constantly improve trade facility and cooperation level and further boost the stable development of the bilateral economic and trade relationship.

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